Creative destruction leads to a decrease in economic growth

Question

Quizplus · Accepted Answer

Creative destruction, which refers to the replacement of old technologies or industries by new ones, may cause short-term disruption and job losses. However, over the long term, it is seen as a driving force for innovation and economic growth, as it leads to the emergence of new industries and opportunities. Therefore, creative destruction does not lead to a decrease in economic growth, but rather to its acceleration.

Creative Destruction Leads to a Decrease in Economic Growth