Abstract
Many would argue that no other economic system than capitalism has produced so much wealth. On the other hand, some might claim that no other system has produced so much destruction. Others consider capitalism as a creative destruction system. This chapter discusses the theory of techno-economic paradigm shifts with the aim to recognize the dynamic nature of the capitalist system, and highlight the transition potential of new modes of social production and organization. Kostakis and Bauwens argue that the world is at a turning point where the excesses, the fallacies and the unsustainability of the current practices have to be recognized and appropriate regulatory changes have to be made, so that desperation and anger are turned into creation.
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© 2014 Vasilis Kostakis and Michel Bauwens
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Kostakis, V., Bauwens, M. (2014). Capitalism as a Creative Destruction System. In: Network Society and Future Scenarios for a Collaborative Economy. Palgrave Pivot, London. https://doi.org/10.1057/9781137406897_1
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DOI: https://doi.org/10.1057/9781137406897_1
Publisher Name: Palgrave Pivot, London
Print ISBN: 978-1-349-49049-3
Online ISBN: 978-1-137-40689-7
eBook Packages: Palgrave Intern. Relations & Development CollectionPolitical Science and International Studies (R0)