EAN: 9780674971165

THE POWER OF CREATIVE DESTRUCTION - ECONOMIC UP...

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  Celine 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.

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