Infographic Of The Day: The History Of Innovation Cycles
Creative destruction plays a key role in entrepreneurship and economic development. Coined by economist Joseph Schumpeter in 1942, the theory of “creative destruction” suggests that business cycles operate under long waves of innovation. Specifically, as markets are disrupted, key clusters of industries have outsized effects on the economy. Today’s infographic shows how innovation cycles have impacted economies since 1785, and what’s next for the future.
Source: http://econintersect.com/pages/infographics/infographic.php?post=202107090501
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