Pathologies of creative destruction? Its dysfunctions from the history of economic theory and social thought, and contemporary empirical economics

This analysis reanalyzes creative destruction as the essential feature of capitalism. Specifically, it focuses on the potential pathology or dysfunction of creative destruction. It first presents the notion of creative destruction as its proponents expound it. It then condenses the assumed ‘physiology’ or functions of creative destruction. Notably, it analyzes some pathologies or dysfunctions of creative destruction as various writers in the history of economic theory and broader social thought, as well as contemporary empirical economics, identify them. These pathologies of creative destruction comprise excessive destruction, extreme hardship and inequality, spurious innovation, monopoly, and profit as the primary motive and nemesis. Lastly, it derives conclusions and directions for further analysis and research.