The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations

Aghion, Philippe,Antonin, CÃ line,Bunel, Simon

ISBN 10: 0674971167 / ISBN 13: 9780674971165

Published by Belknap Press: An Imprint of Har, 2021

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Bibliographic Details

• Title: The Power of Creative Destruction: Economic Upheaval and the Wealth of Nations
• Publisher: Belknap Press: An Imprint of Har
• Publication Date: 2021
• Language: English
• ISBN 10: 0674971167
• ISBN 13: 9780674971165
• Binding: hardcover
• Condition: Very Good

About this title

Synopsis

Hayek Book Prize Finalist
An Economist Best Book of the Year
A Foreign Affairs Best Book of the Year

From one of the world’s leading economists and his coauthors, a cutting-edge analysis of what drives economic growth and a blueprint for prosperity under capitalism.

Crisis seems to follow crisis. Inequality is rising, growth is stagnant, the environment is suffering, and the COVID-19 pandemic has exposed every crack in the system. We hear more and more calls for radical change, even the overthrow of capitalism. But the answer to our problems is not revolution. The answer is to create a better capitalism by understanding and harnessing the power of creative destruction―innovation that disrupts, but that over the past two hundred years has also lifted societies to previously unimagined prosperity.

To explain, Philippe Aghion, Céline Antonin, and Simon Bunel draw on cutting-edge theory and evidence to examine today’s most fundamental economic questions, including the roots of growth and inequality, competition and globalization, the determinants of health and happiness, technological revolutions, secular stagnation, middle-income traps, climate change, and how to recover from economic shocks. They show that we owe our modern standard of living to innovations enabled by free-market capitalism. But we also need state intervention with the appropriate checks and balances to simultaneously foster ongoing economic creativity, manage the social disruption that innovation leaves in its wake, and ensure that yesterday’s superstar innovators don’t pull the ladder up after them to thwart tomorrow’s. A powerful and ambitious reappraisal of the foundations of economic success and a blueprint for change, The Power of Creative Destruction shows that a fair and prosperous future is ultimately ours to make.

About the Authors

Winner of the Nobel Prize in Economic Sciences, Philippe Aghion is Professor at the Collège de France, INSEAD, and the London School of Economics and was previously Professor of Economics at Harvard. He is coauthor, with Peter Howitt, of Endogenous Growth Theory and The Economics of Growth.

Céline Antonin is Senior Researcher at OFCE, the French Economic Observatory at Sciences Po in Paris, and Research Associate in the Innovation Lab at the Collège de France.

Simon Bunel is Senior Economist at INSEE, the French National Institute of Statistics and Economic Studies, and at the Bank of France. He is also Research Associate in the Innovation Lab at the Collège de France.