Creative Destruction Quotes

• The entrepreneur shifts economic resources out of an area of lower and into an area of higher productivity and greater yield.

  Jean-Baptiste Say

  Yield, Entrepreneur, Economic

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• The essential point to grasp is that in dealing with capitalism we are dealing with an evolutionary process

  Joseph A. Schumpeter

  Essentials, Economics, Process

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.82, Routledge

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• At the heart of capitalism is creative destruction.

  Joseph A. Schumpeter

  Heart, Creative, Destruction

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• Embrace change. Envision what could be, challenge the status quo, and drive creative destruction.

  Charles Koch

  Creative, Challenges, Embrace

  Charles G. Koch (2007). “The Science of Success: How Market-Based Management Built the World's Largest Private Company”, p.80, John Wiley & Sons

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• Adam Smith's 'invisible hand' is not above sudden, disturbing, movements. Since its inception, capitalism has known slumps and recessions, bubble and froth; no one has yet dis-invented the business cycle, and probably no one will; and what Schumpeter famously called the 'gales of creative destruction' still roar mightily from time to time. To lament these things is ultimately to lament the bracing blast of freedom itself.

  Margaret Thatcher

  Hands, Invisible Hand, Creative

  "Rupert Murdoch's inaugural Margaret Thatcher lecture" by Rupert Murdoch, www.theguardian.com. October 21, 2010.

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• Situations emerge in the process of creative destruction in which many firms may have to perish that nevertheless would be able to live on vigorously and usefully if they could weather a particular storm.

  Joseph A. Schumpeter

  Weather, Creative, Storm

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.90, Routledge

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• Entrepreneurship rests on a theory of economy and society. The theory sees change as normal and indeed as healthy. And it sees the major task in society – and especially in the economy – as doing something different rather than doing better what is already being done. This is basically what Say, two hundred years ago, meant when he coined the term entrepreneur.

  Peter Drucker

  Years, Two, Entrepreneur

  "Innovation and Entrepreneurship".

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• My philosophy, one of the biggest enemies of future success is past success, because you become complacent, you become risk averse, and that's one of the things we try to drive here, and this is fundamental to this philosophy, and that's in this component change, and also in value creation. That we need to drive creative destruction, not just incremental innovations, but innovations that will change the whole nature of the business.

  Charles Koch

  Philosophy, Past, Creative

  "Full interview: Charles Koch". "Corner Office" with Kai Ryssdal, www.marketplace.org. October 21, 2015.

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• The most important feature of an information economy, in which information is defined as surprise, is the overthrow, not the attainment, of equilibrium. The science that we have come to know as information theory establishes the supremacy of the entrepreneur because it appreciates the powerful connection between destruction and what Schumpeter described as "creative destruction," between chaos and creativity.

  George Gilder

  Powerful, Creativity, Appreciate

  George Gilder (2013). “Knowledge and Power: The Information Theory of Capitalism and How it is Revolutionizing our World”, p.33, Regnery Publishing

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• Now along comes the potential creative destruction brought by a different distribution methodology, the Internet.

  Barry Diller

  Creative, Different, Internet

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• But there is always creative destruction in markets: there are always new winners taking the place of those that are. So if you only look at the market's surface, it may appear flat, but there's always huge turbulence taking place within.

  Kerr Neilson

  Creative, Looks, May

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• The creative destruction that social media is currently unleashing will change more than technology or the leader board of the Fortune 100. It is driving a qualitative shift in the nature of relationships between brands and their customers.

  Simon Mainwaring

  Technology, Media, Creative

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• It's hard to overemphasize how important Ford's deregulation was. True, most of the benefits took years to unfold-rail freight rates, for example hardly budged at first. Yet deregulation set the stage for an enormous wave of creative destruction in the 1980s.

  Alan Greenspan

  Years, Creative, Important

  Alan Greenspan (2008). “The Age of Turbulence: Adventures in a New World”, p.72, Penguin

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• Capitalism proceeds through creative destruction. What is created is capitalism in a 'new and improved' form - and what is destroyed is self-sustaining capacity, livelihood and dignity of its innumerable and multiplied 'host organisms' into which all of us are drawn/seduced one way or another.

  Zygmunt Bauman

  Self, Creative, Way

  "Capitalism has learned to create host organisms". www.theguardian.com. October 18, 2011.

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• Creative Destruction is the essential fact about capitalism.

  Joseph A. Schumpeter

  Creative, Essentials, Facts

  Joseph A. Schumpeter (2013). “Capitalism, Socialism and Democracy”, p.83, Routledge

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• The perennial gale of creative destruction

  Joseph A. Schumpeter

  Creative, Gale, Economics

  Joseph A. Schumpeter (2011). “The Theory of Economic Development: An Inquiry into Profits, Capital, Credit, Interest, and the Business Cycle”, p.37, Transaction Publishers

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• According to the management expert Peter F. Drucker, the term "entrepreneur" (from the French, meaning "one who takes into hand") was introduced two centuries ago by the French economist Jean-Baptiste Say to characterize a special economic actor-not someone who simply opens a business, but someone who "shifts economic resources out of an area of lower and into an area of higher productivity and greater yield." The twentieth-century growth economist Joseph A. Schumpeter characterized the entrepreneur as the source of the "creative destruction" necessary for major economic advances.

  David Bornstein

  Hands, Two, Yield

  David Bornstein (2004). “How to Change the World: Social Entrepreneurs and the Power of New Ideas”, p.2, Oxford University Press, USA

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• I try to build on our management philosophy. I try to understand what the threats and opportunities are for us. Uh, I try to make sure that we're driving innovation and creative destruction hard enough so we're not blindsided, and that our attitude is to, in starting any initiative, any business, is to focus on how we can create value for others, rather than how we maximize profit, because you can make money focusing on, "How do I maximize profit?"

  Charles Koch

  Attitude, Philosophy, Opportunity

  "Full interview: Charles Koch". "Corner Office" with Kai Ryssdal, www.marketplace.org. October 21, 2015.

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