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Creative destruction: the COVID-19 economic crisis is accelerating the demise of fossil fuels

  • Written by Peter Newman, Professor of Sustainability, Curtin University
Creative destruction: the COVID-19 economic crisis is accelerating the demise of fossil fuelsShutterstock

Creative destruction “is the essential fact about capitalism”, wrote the great Austrian economist Joseph Schumpeter in 1942. New technologies and processes continuously revolutionise the economic structure from within, “incessantly destroying the old one, incessantly creating a new one”.

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Read more: Creative destruction: the COVID-19 economic crisis is accelerating the demise of fossil fuels

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