Has Creative Destruction become more Destructive?

@article{Komlos2014HasCD,
  title={Has Creative Destruction become more Destructive?},
  author={John Komlos},
  journal={The B.E. Journal of Economic Analysis \& Policy},
  year={2014},
  volume={16}
}
  • J. Komlos
  • Published 1 August 2014
  • Economics
  • The B.E. Journal of Economic Analysis & Policy
Abstract: Schumpeter’s concept of creative destruction as the engine of capitalist development is well-known. However, that the destructive part of creative destruction is a social and economic cost and therefore biases our estimate of the impact of the innovation on GDP is hardly acknowledged, with the notable exception of Witt (1996. “Innovations, Externalities and the Problem of Economic Progress.” Public Choice 89:113–30). Admittedly, during the First and Second Industrial Revolutions the… 
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