Delayed creative destruction and the coexistence of technologies

Disruptive innovations often engage in a fierce battle with incumbent technologies for hegemony. Past studies on technological innovations are silent about factors that extend the duration of the ‘era of ferment’—that is, the period during which competing technologies fight for dominance. We argue that complexity of the underlying technology, ecological and institutional dynamics may permit coexistence of competing technology regimes. The paper illustrates such coexistence by discussing the persistence of disparate technologies in steel making and kidney disease treatment. We conclude that the process of ‘creative destruction’ can be delayed in certain settings.