Joseph A. Schumpeter (1883-1950) saw the economy as a waveform of crises and fresh beginnings. He elucidated this theory with a model of ‘creative destruction’. His concept can be visualised using nature as an example. In 1601, an earthquake caused a huge Tsunami in Lake Lucerne, completely destroying the surrounding lake shores with a 4 metre high wave. In spite of this catastrophe, the region has developed over the centuries into a much loved and economically thriving tourist destination.