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April 2023

Supermarket Lithuania
The Lithuanian risk of out-of-control inflation: how citizens have to adapt Country Analysis

The Lithuanian risk of out-of-control inflation: how citizens have to adapt

According to data from the National Social Security Fund of Lithuania, nominal labour income rose by 12.7% year-on-year, but could not keep up with the 20% inflation rate in January-March. The increase in average incomes was due to increases in the minimum wage and raises for civil servants. The income…
Gwendal Combot
2023-04-21
girl on a zoom call
Industry 4.0, Schumpeter’s “creative destruction” and COVID-19 Full reports

Industry 4.0, Schumpeter’s “creative destruction” and COVID-19

Creative destruction is an economic concept developed by Joseph Schumpeter in the middle of the 20th century. In his book “Capitalism, socialism and democracy”, Schumpeter describes this phenomenon as “process of industrial mutation that continuously revolutionises the economic structure from within, incessantly destroying the old one, incessantly creating a new…
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