Market economies in that sense are continuously renewing themselves. Innovation, risk taking, and competition are the driving forces that propel standards of living progressively higher.
See NGFS (2021), “Adapting central bank operations to a hotter world: reviewing some options”, NGFS Technical Document, March. CONTACT  European Central Bank Directorate General Communications    Sonnemannstrasse 20     60314 Frankfurt am Main, Germany    media@ecb.europa.eu  +49 69 1344 7455  Reproduction is permitted provided that the source is acknowledged.