The Creative Destruction within Economic Evolution-Hurwiczian Approach
Abstract - The aim of this research is an analysis of the role of the creative destruction within economic evolution with the special focus on the role of information for the structures of economic processes. The main methods used in the paper are the axiomatic method and the study of the properties of the linear and continuous mappings in finite dimension real spaces. By the use of simple mathematical methods we show that the mechanisms of the creative destruction can drive various types of economic processes, including the processes leading to equilibrium.
Keywords - Innovation, Creative Destruction, Mechanism.