HES: RE: RVW--Langlois on McCraw, _Prophet of Innovation: Joseph Schumpeter and Creative Destruction_

[Mason Gaffney]

Concerning Langlois's long review of McCraw on Schumpeter, I suggest that
"creative destruction" is just a new name for obsolescence, and does not
warrant all the fuss it gets. Schumpeter was a deep and wise writer on
several topics, but renaming obsolescence does not strike me as a great
achievement, except as successful phrase-making. Perhaps others will chime
in and improve my mind on this subject.

Mason Gaffney