The term “creative destruction” was coined by Joseph Schumpeter in the 1940s to describe the fact that capitalist economies are constantly creating new technologies, which in turn destroy older ones. Or as the Schumpeter put it, “creative destruction describes the “process of industrial mutation that incessantly revolutionizes the economic structure from within, incessantly destroying the old one, incessantly creating a new one” (Wikipedia).
When teaching undergrads it is important to try to use real world examples to make concepts such as these relevant. Here is one student (from the wonderful website Shit My Students Write),who sort of gets the picture, but in a hilariously weird way:
When you make a really great papier-mâché diorama but then a member of the bourgeoisie tells you its terrible so you destroy it.
Nailed it! I need to remember this example to wow the undergrads next time I teach Schumpeter.