Creative destruction works to remove unneeded jobs,companies,and even industries.

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Creative destruction is a concept coined by economist Joseph Schumpeter, which refers to the process of the introduction of new innovations and technologies that replace or make obsolete existing products, businesses, and industries. This process works by removing jobs, companies, and industries that are no longer necessary or efficient, leading to economic growth and progress in the long term.

Creative Destruction Works to Remove Unneeded Jobs,companies,and Even Industries