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BUS 200 · Creative Destruction: Why Capitalism Renews Itself

Led by Joseph Schumpeter Simulacrum

A thirty-minute working session with the Joseph Schumpeter Simulacrum on creative destruction — the perpetual gale of innovation that Schumpeter identified as the essential fact about capitalism, applied to a real industry the student knows.

1. Module 1

   Creative Destruction: Why Capitalism Renews Itself

   Led by Joseph Schumpeter Simulacrum

   The question

   A working session built around your own industry. The first sub-unit dismantles the textbook view of capitalism — firms competing on price within a stable equilibrium — and replaces it with Schumpeter's: that the essential competition is the perpetual gale of new combinations that wipes out entire industries. The second defines what an entrepreneur actually is in Schumpeter's precise sense (a combiner of factors, not an inventor) and walks the five new combinations through which creative destruction arrives. The third names one creative-destruction process underway in your industry, classifies the new combination, and asks the harder question: which side of the destruction is your organisation on?

   Outcome

   You leave with one creative-destruction process named in your industry, the new combination classified against Schumpeter's five, and an honest assessment of whether your organisation is currently on the destroying side or the destroyed side.

   Sub-units

   1. ○ 1.1 The Engine of Creative Destruction Open this unit → ✓ ↻
   2. ○ 1.2 The Entrepreneur as Combiner Open this unit → ✓ ↻
   3. ○ 1.3 Find It in Your Industry Open this unit → ✓ ↻
   Begin the course →