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Explaining Creative Destruction
- Level:
- AS, A Level, IB
- Board:
- AQA, Edexcel, OCR, IB, Eduqas, WJEC
Last updated 17 May 2019
The concept of creative destruction is explored in this short revision video. The term “creative destruction" was first coined by Joseph Schumpeter in his book Capitalism, Socialism and Democracy in 1942. Schumpeter was an economist of the Austrian School which advocated a laissez-faire approach to economic policy.
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