"Creative destruction," according to Joseph Schumpeter, is best characterized by which of the following?
A) The impact of the "managerial revolution" on traditional family-run businesses.
B) The breaking down of old industrial structures and their replacement by more competitive, efficient, and high-technology alternatives.
C) The demise of state socialism and the emergence of capitalism in Russia.
D) The impact of "free trade" on Canada's cultural industries.
Correct Answer:
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