Based on Schumpeter’s process of creative destruction, we propose a qualitative model of the cyclic process of introducing new technologies. The model consists of a variable structure system with switchings between three globally stable dynamical subsystems. The switchings between regimes make it possible to describe the process of departing the system from the equilibrium state in the process of introducing new technologies. The alternation of regimes implies lack of equilibrium for the variable structure system despite the global stability of its subsystems. This mathematical fact corresponds to a typical situation in real economic systems during the renovation period. The proposed model shows the global cyclicity of the process of introducing new technologies. In the case of an unsuccessful technology introduction, we establish the existence of a closed trajectory of the system.