Creative-Destruction, Entrepreneurship And Innovation

"Creative-Destruction" was the seminal concept of Joseph Alois Schumpeter. He was an economist who lived in the first half of the 20th century, but is now enjoying greater popularity and influence in the first half of the 21st century. He seems to appeal especially to entrepreneurs who view innovation as being the path to becoming the next Bill Gates, unhampered in a way by government or other forms of bureaucratic-like control. While the "creative" side of the equation is often celebrated, the "destructive" side is often ignored. Also often passed over is Schumpeter's believe that big business was better at moving both the economy and innovation and his lack of faith in a democratic form of government to maintain a capitalistic system. The concept of Creative-Destruction is also related to issues of copyright, fair-use and competition. The photo of Schumpeter used in this lens, which was taken from the same Wikipedia page linked to above, raises all of those issues.