Definition of creative destruction in US English:

creative destruction

noun

  • The process by which something is replaced, and thus effectively destroyed, by something newly created; (Economics) the process by which emerging technologies, industries, and ideas in capitalist economies continuously supplant existing ones, identified by Joseph Schumpeter in 1942; frequently in "gale of creative destruction".

Origin

1920s; earliest use found in Harold Laski (1893–1950), political theorist.