A new economic perspective argues that the traditional concept of "creative destruction"—where innovation displaces outdated industries—is insufficient for addressing today’s complex challenges. Instead, scholars propose "creative transformation" as a framework that emphasizes sustainable adaptation, systemic change, and inclusive growth rather than mere disruption. The shift reflects growing recognition that rapid technological and social shifts require more than just market-driven renewal to build resilient economies. The analysis highlights how this broader approach could better align progress with long-term stability and societal needs.
Why 'creative destruction' is no longer enough; the case for creative transformation China Daily
