Creative Destruction By W. Michael Cox

Read “Creative Destruction” by W. Michael Cox and Richard Alm athttp: //www. econlib. org/library/Enc/CreativeDestruction. htmland answer the following questions. What is “creative destruction”?How is it related to economic growth?Give an example of industry where you see there is a ‘creative destruction’ presently takes place in the US.

Creative Destruction by W. Michael Cox

Question
Read “Creative Destruction” by W. Michael Cox and Richard Alm at

http://www.econlib.org/library/Enc/CreativeDestruction.html

and answer the following questions.

What is “creative destruction”?
How is it related to economic growth?
Give an example of industry where you see there is a ‘creative destruction’ presently takes place in the US.