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Joseph Schumpeter characterized the dynamism of the market economy as the process of "creative desctruction", creating...

Joseph Schumpeter characterized the dynamism of the market economy as the process of "creative desctruction", creating both winners and lowers as decided ultimately by consumers. Can losers in the market compeition make damage claims against winners? Why or why not?

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"Creative destruction" means that the new creation or newer products are destroying the market for older ones. The market for older products is not intentionlly killed by new product but they get replaced by industry demand because new products are updated and provide more utility to the buyers. This process has always been there and those who are losers today were minners sometime back and had replaced the losers at that time. The losers lose because ot their outdated product and poorer technology or because of the fact that comparitively they are providing lesser utility. So, winners are nowhere at fault and so they cannot be blaimed for the weakness of losers and thus losers cannot look for damage claim against winners.

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