A concept which has for long now been confined to certain economic theories, notably that of the Austrian economist Joseph Schumpeter (1883-1950), looks ready to come back into wider usage.
'Creative Destruction' is only too accurate about the relentless pressure of change in modern capitalism, and the argument of Foster and Kaplan (2003) that corporations have to change at the pace and scale of capital markets rather than just operate well (don't be boring!). But the concept of creative destruction orginally filtered through to economics from Nietzsche, who intended a much wider application. Current affairs, as well as more than two centuries of history, make clear that Nietzsche would have been right.
2022 is one of those years when creative destruction seems especially pertinent, and not just in economics or business. But before anyone gets excited about going back to Nietzsche and transvaluing values (much needed in our societies), a huge caveat. If the renewed threat of nuclear war materialises, we then could expect just 'destruction' without the 'creative' bit. Moreover, that would apply alike to economics and anything else.