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The S Curve
Dynamics of Systems Thinking
In his 1942 book Capitalism, Socialism, and Democracy, economist Joseph
Schumpeter coined a new term, creative destruction, to describe the process
“of industrial mutation … that incessantly revolutionizes the economic
structure from within, incessantly destroying the old one, incessantly creat-
ing a new one.” Today, seventy years after Schumpeter introduced the con-
cept, creative destruction is widely considered to be essential to sustained
economic growth [2].
Entrepreneurs drive the creative aspect of the process. The seek new
opportunities, create new markets, and along the way, destroy old busi ...