@article {457716,
	title = {Empirical Confirmation of Creative Destruction from World Trade Data},
	journal = {PLoS ONE},
	volume = {7},
	number = {6},
	year = {2012},
	abstract = {
	
		We show that world trade network datasets contain empirical evidence that the dynamics of innovation in the world economy indeed follows the concept of\&nbsp;creative destruction, as proposed by J.A. Schumpeter more than half a century ago. National economies can be viewed as complex, evolving systems, driven by a stream of appearance and disappearance of goods and services. Products appear in bursts of creative cascades. We find that products systematically tend to co-appear, and that product appearances lead to massive disappearance events of existing products in the following years. The opposite{\textendash}disappearances followed by periods of appearances{\textendash}is not observed. This is an empirical validation of the dominance of cascading competitive replacement events on the scale of national economies, i.e., creative destruction. We find a tendency that more complex products drive out less complex ones, i.e., progress has a direction. Finally we show that the growth trajectory of a country{\textquoteright}s product output diversity can be understood by a recently proposed evolutionary model of Schumpeterian economic dynamics.
	

	
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},
	url = {https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0038924},
	author = {Peter Klimek and Hausmann, Ricardo and Stefan Thurner}
}
