creative destruction: collapse and contract


Creative destruction, coined by Joseph Schumpeter in Capitalism, Socialism, and Democracy, refers to the process by which new innovations kill old inefficient products or processes. But we are not talking about that but instead, of destroying data to create more useful information. By destroying, we mean altering the data currently loaded in memory with no undo button to rely to. When you load or open data into Stata, Stata stores the data in your machine’s RAM. Any changes made, therefore, are not permanent or saved in your hard drive until you call on save, but still be careful that you do not overwrite your raw data files.
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