In the article Creative Destruction, the authors explore how new products that come to the market replace old ones. A side effect of launching innovative products can be the destruction of companies that have failed to adapt. Scholars also write that innovation is the driving force behind economic progress and the development of all manufacturing industries (Smed-Gerdin & Watcyn-Jones, 2015). This means that with the development of new, more functional, and progressive products, other companies will also have to develop something unique to survive. The authors suggest that this may result in only cutting-edge products filling the market (Smed-Gerdin & Watcyn-Jones, 2015). As evidence, you can cite goods from history that have been replaced, such as cassette tapes and polaroids. My reading and interpretation cannot be biased as the article is about a purely non-biased topic of economic impact.
Regarding currency and accuracy, Hayes’ article is substantive and focused on a specific topic of discussion without deviating from it. The purpose of writing the article can be considered the disclosure of consumerism. The source is relevant because the author considers the impact of consumerism and its causes. This topic is relevant for modern society, where consumption is increasing (Hayes, 2022). The authority of the work is because the author has been a derivatives trader for a long time and has a Ph.D. in this field. The concentration of the writer’s efforts on the task at hand is measured.
References
Hayes, A. (2022). Consumerism explained: Definition, economic impact, pros & cons. Investopedia. Web.
Smed-Gerdin, K. & Watcyn-Jones, P. (Eds). (2015). Creative Destruction. Hedencrona, 84.