What is the defining characteristic of capitalism? Some say profit. Others, private ownership. Still others, rapacity. Considering that capitalism may have begun as early as the 16 th century, in ...

Forbes contributors publish independent expert analyses and insights. I apply economic insights to improve regulations and their effects. Joseph Schumpeter is having a heyday. In 1942, he coined the ...

In the late 1990s-early-2000s timeframe, the term “creative destruction” came into vogue, as digital-native businesses swept away cobwebs in their respective markets, spurring an ensuing wave of ...

Before President Donald Trump, change came to Washington, D.C., very slowly. Now it has come in a great, big, destructive whirl. Trump’s Department of Government Efficiency deputy and fellow ...

When drastic disruptions bring new political leaders, policymakers respond with major changes. We’re living in such a time, even if it’s not clear how much a pandemic, rampant inflation, international ...

Those shaping America’s coal policy can learn something important about creative destruction, the process by which new technologies replace older ones through innovation, from the 2025 Nobel Prize ...

STOCKHOLM -- Three researchers who probed the process of business innovation won the Nobel memorial prize in economics Monday for explaining how new products and inventions promote economic growth and ...

The Royal Swedish Academy of Sciences, which awarded the 2025 Nobel Prize in Economics Joel Mokyr, Philippe Aghion and Peter Howitt, on October, shared succinct reasons for why they have won. Combined ...