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Analysis: Creative Destruction

Factual

Creative Destruction

11/02/2013

BBC Radio 4 - Analysis, Creative Destruction

Should we be celebrating that some of Britain's big high street brands have gone bust?

As high street names close for good, Phil Tinline asks if such failures are necessary for future growth. Or is 'creative destruction' a comforting delusion, not a saving grace?

In the last few weeks a number of high street names have closed for good. In Analysis Phil Tinline asks whether, amid the gloom, there is a reason to celebrate.
The economist Joseph Schumpeter first coined the phrase "creative destruction" in the 1940s. Innovation he believed causes the death of established businesses and leads to new opportunities.
So, are company failures necessary for future growth? Or is "creative destruction" a comforting delusion, not a saving grace?
Producer : Rosamund Jones.

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