R innovative dynamism as a system but also an assortment of historical yarns that are themselves meaningful Well written interesting informative and a great resource or those interested in many aspects of economics This book does an excellent job of articulating and building on the works of Joseph Schumpeter Dr Arthur Diamond not only explains the virtues of innovation but he takes seriously the challenges to creative destruction The book offers thoughtful critiues on many of the common concerns regarding markets It is an excellent read Beauty is a Verb: The New Poetry of Disability for Economics students Professors in Economics as well as anyone who wishes to have an informed opinion on technology and innovation The author does a great job providing a wide ranging overview of the positive impact of innovation and how to sustain a system that allows it tolourish A ast paced read that is very well researched I especially liked his recommended reading list or those who want to do a deeper dive into specific topics I heard the author on EconTalk and that interview prompted my interest Highly recommend this book. On labor market are unjustified since and better new jobs are created than are destroyed and that other ears can be mitigated by better policies The steadygrowth in regulations often defended on the basis of the precautionary principle increases the costs to potential entrepreneurs and thus reduces innovationThe Great Fact of economic history is that after at least 40000 years of mostly poor nasty brutish and short humans in the last 250 years have started to live substantially longer and better lives Diamond increases understanding of why.
So masterfully throughout each chapter The book is easy to ollow and understand as the chapters are systematically organized and labeledThe wonder of the book is the breadth of examples Diamond uses to show economic theory at work A sentence The Mother Zone from page 47 seems to capture Diamond s style The best answer to suchears is to recount the past cases such as the three just mentioned where the ears have proved unfounded In that instance Diamond is referring to people who ear new technologies and instead of relying on economic theory to explain why such thinking is wrong he shows how it works in the real world He uses this show me system over and over throughout the book recounting a wide variety of instances that support his arguments The author s seemingly endless and boundless examples are what make it such an interesting readFor someone who worries about our country s The Poke Cookbook: The Freshest Way to Eat Fish future and what will be passed on touture generations my hope is lots of people will take the time to read this antastic book The reader will come away with not only an understanding and appreciation o. Hunches Arthur M Diamond Jr shows how economies grow where innovative dynamism through leapfrog competition The Somme: Heroism and Horror in the First World War flourishes as inthe United Statesrom roughly 1830 1930 Consumers vote with their Sicilian Lives feetor innovative new goods and Tattoo a Banana: And Other Ways to Turn Anything and Everything Into Art for process innovations that reduce prices benefiting ordinary citizens than the privileged elites Diamond highlights that because breakthrough inventions are costly and difficult patentscan beair rewards Alice Oliver for invention and can provideunding to enable The Protestant Temperament future inventions He argues that someears about adverse effects.
Professor Diamond has created a valuable resource or all who wish to understand how we escape poverty The reedom to innovate is the key to prosperity Lots of short term pain but incredible abundance The Radiant Child for all Profoundacts and great arguments A most worthy investment Why the 5 stars I d give it 10 if I could My guess is ew people expect a book on economic policy or theory to be a pleasurable read but this book is ull of examples anecdotes and history that brings the author s ideas to life making it enjoyable While being a good read may drive sales importantly The Internet of Us: Knowing More and Understanding Less in the Age of Big Data for voters and the politicians that pander to us it shows just how important a dynamic economy is Lost jobs and bankrupt companies are a lot easier to mourn andight to keep than jobs and companies that never were or aren t yet but the necessity of that sometimes unpleasant churn becomes obvious as you read the bookAs a longtime reader of the author s blog artdiamondblogcom I started the book with the expectation it would provide policy suggestions and examples supportive of a dynamic economy and Diamond does. Life improves under the economic system often called entrepreneurial capitalism or creative destruction but accurately called innovative dynamism Openness to Creative Destruction Sustaining Innovative Dynamism shows how innovation occurs through the efforts of inventors andinnovative 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 slow.