Nepal, May 11 -- Austrian political economist Joseph Schumpeter's theory of 'creative destruction' hypothesises that in an economy, innovation enables long-standing structures to be dismantled to make way for new ones. This concept is currently in full view in Nepal, as the newly elected government with nearly a two-thirds majority tries to overhaul a system that has progressively rotted for over three decades. Since the onset of multiparty democracy in 1990-and particularly since 2008 when the country became a republic with the abolition of the monarchy-leaders of the major political parties have been preoccupied with their own survival, setting in motion a corrosive cycle of bad governance, corruption and power brokers wielding influenc...