Sam Peltzman Offers Advance Praise for Openness to Creative Destruction

We are told that robots are about to make us superfluous and that the giants of Silicon Valley will swallow the economy. Art Diamond’s “openness to creative destruction” provides a healthy antidote to all this gloom and doom. He gives us the necessary historical perspective: we owe our comfort and even our lives to generations of disruptive innovation. Yet each disruption bred apocalyptic portents like those we hear today. These did not come to pass because of new disruptions down the road. Diamond ably documents this process of “creative destruction” and its enormous historical benefit. He also provides a timely warning against heeding the pessimists of the moment by imposing legal and regulatory shackles on the innovators. “Openness to Creative Destruction” is a most valuable addition to the public discussion of innovation.

Sam Peltzman, Professor Emeritus of Economics, University of Chicago; Director Emeritus of the George J. Stigler Center for the Study of the Economy and the State. Author of Political Participation and Government Regulation, and other works.

Peltzman’s advance praise is for:
Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.

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