Updating Schumpeter’s Gales of Creative Destruction: Exploiting the Vulnerability of New World Order Corporate Globalism With Regional Blockchain Entrepreneurial Economic Growth
14 Pages Posted: 27 Jun 2022
Date Written: June 16, 2022
We update Schumpeter’s original analysis, by placing his concept of the gales of creative destruction within the modern framework of Clayton Christensen’s concept of blockchain innovation. The income and wealth benefits of blockchain entrepreneurial economic growth are widely distributed, and geographically decentralized, throughout the national society.
In blockchain entrepreneurial innovation, open flows of tacit knowledge are enhanced by the ability of the computer algorithm to identify the participants in the knowledge chain who are contributing shared tacit knowledge. In the global macrotechnology, the formerly open flows of tacit knowledge are internalized within the legal organizational entities of large corporations in order to avoid technological knowledge from slipping off the plate of a corporation, [spillover], and potentially falling onto the plate of a new venture not controlled by the corporations.
Keywords: Blockchain, clayton christensen, schumpeter, entrepreneurial capitalism, new world order
JEL Classification: B25, O31
Suggested Citation: Suggested Citation