Schumpeter’s creative destruction was a warning, not a celebration.

Evidence

The discourse of creative destruction today is, of course, very different from Marx’s analysis, very different even from Schumpeter’s (2008) wry observations, which were not intended as an unqualified celebration of capitalism’s “creative” powers, but, rather, as a warning about their potential to severely fray the social fabric. — Max Haiven, Cultures of Financialization, 432

Categorization

• DEFINE: Correction of the common misreading of Schumpeter; the term’s original valence was cautionary.