The following text is about economics.

"Creative destruction," a term associated with economist Joseph Schumpeter, describes how capitalist innovation destroys old industries while creating new ones. The automobile industry displaced horse-drawn transport; digital photography eliminated film manufacturing. This process, Schumpeter argued, is capitalism's essential driving force—not price competition but competition from new commodities and technologies. Workers in dying industries suffer real losses, even as society may gain overall. Contemporary discussions of automation and technological unemployment echo these century-old debates about how to manage disruption's costs and benefits.