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22min chapter
S1 E1: Economics of Creative Destruction with Ufuk Akcigit from the University of Chicago
The Innovation and Diffusion Podcast
Exploring Creative Destruction in Economic Growth
The chapter delves into the concept of creative destruction, its evolution in economic literature, and its crucial role in driving change and progress across individual, firm, and systemic levels. It discusses various economic growth strategies, from basic infrastructure to innovation, emphasizing the importance of adaptation for economic advancement. The conversation also touches on the distinction between defensive and radical innovation, the impact of incumbents on technological advancement, and the limitations of solely focusing on aggregate R&D metrics for gauging economic performance.
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