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'''Creative destruction''' according to [[Investopedia]] is a "term coined by Joseph Schumpeter in his work entitled "Capitalism, Socialism and Democracy" (1942) to denote a "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."<ref>http://www.investopedia.com/terms/c/creativedestruction.asp</ref>
'''Creative destruction''' according to [[Investopedia]] is a "term coined by [[Joseph Schumpeter]] in his work entitled ''"Capitalism, Socialism and Democracy"'' (1942) to denote a "process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one."<ref>http://www.investopedia.com/terms/c/creativedestruction.asp</ref>
Investopedia gives the following explanation of the economic benefit of creative destruction:
Investopedia gives the following explanation of the economic benefit of creative destruction: