First Nations are using ‘creative disruption’ to foster economic growth in their communities – The Conversation

March 1, 2023

First Nations have been resisting the historic and ongoing impacts of Canada’s extractive economy on their communities by exercising their right to self-governance and taking control of their economic futures.

Creative disruption stands in contrast to creative destruction, a term coined by Austrian political economist Joseph Schumpeter. Schumpeter argued that capitalism causes old ideas and technology to quickly become obsolete through the process of innovation. In the pursuit of profit, capitalism ruthlessly and relentlessly eliminates old ideas and installs new ones.

Creative disruption, on the other hand, aims to make space for new ideas by forcing the old ways to adapt and adopt. First Nations communities are doing this in a number of ways.

Read More: https://theconversation.com/first-nations-are-using-creative-disruption-to-foster-economic-growth-in-their-communities-200427