"Schumpeter would have loved Bitcoin. He would have seen in Bitcoin a living representation of his theory of capitalism, so often quoted but rarely understood. Creative destruction is the process by which capitalism continually rejuvenates itself. It is what drives markets forwards, constantly being refreshed with new ideas that destroy extant structures and erect better ones in their stead.” - Prateek Goorha & Andy Edstrom
Today we are digging into the evolution of the economy and the cycles of creative destruction that the most significant innovations create in the economic order. What is Bitcoin in this view, and how might these cycles map onto of the cycles within the Bitcoin system itself?
Check out the article, plus the others mentioned in today's episode for further exploring the cycles of Bitcoin, innovation, and society:
The Schumpeterian Bitcoin Cycle:
https://goorha.medium.com/the-schumpeterian-bitcoin-cycle-e79543443bdf
Bitcoin and the Rhythms of History - By Brandon Quittem:
https://bitcoinaudible.com/bitcoin-and-the-rhythms-of-history/
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