PowerPoint Presentation

Digital disruption in the music industry#med332

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Clayton Christensen2

Clayton Christensen3

Creative destruction, sometimes known as Schumpeter's gale, is a concept in economics which since the 1950s has become most readily identified with the Austrian American economist Joseph Schumpeter[1] who derived it from the work of Karl Marx and popularized it as a theory of economic innovation and the business cycle.4

The perennial gale of creative destruction (p84)

[The] process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one (p83)

According to Schumpeter, the "gale of creative destruction" describes the "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one"5