INNOVATION CYCLES The theory of creative destruction, coined | Innovation AQUA

INNOVATION CYCLES

The theory of creative destruction, coined by economist Joseph Schumpeter, states that long waves of innovation drive economic growth, with key industries having outsized impacts on the economy. The infographic shows the six waves of innovation, from water power in the Industrial Revolution to the internet. Technological innovations boost economic growth, but can also lead to monopolies. The upcoming sixth wave, marked by AI and digitization, could result in the automation of systems and digitization of physical goods, with clean tech addressing climate concerns becoming increasingly important.

#Theory
#Economy
#Infographic
#Revolution 
#Technology
#Innovation
#AI

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