Creative Destruction
Should we be celebrating that some of Britain's big high street brands have gone bust?
Analysis · BBC Radio 4
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Show Notes
In the last few weeks a number of high street names have closed for good. In Analysis Phil Tinline asks whether, amid the gloom, there is a reason to celebrate. The economist Joseph Schumpeter first coined the phrase "creative destruction" in the 1940s. Innovation he believed causes the death of established businesses and leads to new opportunities. So, are company failures necessary for future growth? Or is "creative destruction" a comforting delusion, not a saving grace? Producer : Rosamund Jones.