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6 docs tagged with "financial"

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Creative Destruction

Joseph Schumpeter noted that new innovations often sweep away the old. Businesses must adapt or be replaced as technology and markets progress.

Efficiency does not mean a reduced spend

Making something more efficient can actually lead to greater overall consumption. This is known as Jevons' Paradox and means savings may be temporary as demand rises.

Higher order systems create new sources of value

Industrialised components do more than cut costs — they provide the foundation for entirely new products and markets. As once novel capabilities become utilities, they are combined in fresh ways to generate economic value. Electricity enabled radio, telephony and computing; cloud infrastructure enables countless digital services.