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Openness to Creative Destruction – Sustaining Innovative Dynamism - Oxford Scholarship Online
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Openness to Creative Destruction: Sustaining Innovative Dynamism

Arthur M., Jr. Diamond

Abstract

Openness to Creative Destruction: Sustaining Innovative Dynamism shows how life improves under the economic system often called “entrepreneurial capitalism” or “creative destruction,” but more accurately called “innovative dynamism.” The book describes how, in such a system, innovation occurs through the efforts of inventors and innovative entrepreneurs, how workers on balance benefit, and how good policies can encourage innovation. The inventors and innovative entrepreneurs are often cognitively diverse outsiders with the courage and perseverance to see and pursue serendipitous discoveries or ... More

Keywords: entrepreneurial capitalism, creative destruction, innovative dynamism, cognitive diversity, entrepreneurial perseverance, leapfrog competition, process innovations, breakthrough innovations, secular stagnation, cancer cures

Bibliographic Information

Print publication date: 2019 Print ISBN-13: 9780190263669
Published to Oxford Scholarship Online: June 2019 DOI:10.1093/oso/9780190263669.001.0001

Authors

Affiliations are at time of print publication.

Arthur M., Jr. Diamond, author
Professor of Economics, University of Nebraska