Creative destruction has the innate ability to impact the future of your business. Of the many things that can bring about the end of a business, few can be more lethal than stagnation — not changing ...

By G S Tripathi The 2025 Nobel Prize in Economic Science was announced recently. The prize theme describes two periods of economic progress: a stagnating period of the economy in the pre-industrial ...

Ray Perryman is the head of The Perryman Group and serves as a distinguished professor at the International Institute for Advanced Studies. Each year, the Royal Swedish Academy of Sciences awards the ...

What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

In 1942, economist Joseph Schumpeter described “creative destruction” as a “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...

THE 2025 Nobel Prize in Economics is out. Institutionalists, economic historians, and political economists have won again, this time Joel Mokyr, Philippe Aghion, and Peter Howitt. This year’s award ...