Zmiany produktywności w okresie kryzysu COVID-19 w świetle Schumpeterowskiej koncepcji kreatywnej destrukcji

Abstract

Purpose – The aim of the article is to analyse changes in labour productivity during the COVID-19 pandemic in the context of Schumpeter’s concept of creative destruction and the work of economists on the role of innovation and market selection during economic crises. Research method – In the theoretical part of the article the method of deduction was used. In the empirical layer, econometric methods (AR, ARDL models) and the evometrics were used. Results – Changes in labour productivity during the COVID-19 pandemic in an economy devoid of adaptive innovations would be subject to mechanisms of simple destruction, leading to its stagnation in the long run. Originality /value /implications /recommendations – The concept of “destruction which brings creation” provides an alternative theoretical framework for interpreting the productivity changes during the COVID-19 pandemic, opening up a promising avenue for studying the behaviour of economic systems in abnormal conditions. According to our concept, state intervention aimed at limiting the spread of the SARS-CoV-2 virus (lockdown) triggers innovative adaptation activities of entities leading to the transformation of processes typical for simple destruction into destruction which brings creation. In the context of our concept, a policy of promoting innovation already during the COVID-19 crisis is a necessary condition, and the inclusion of the efficiency criterion in state aid is a sufficient condition for initiating post-crisis growth.