Discovery, innovation, and dynamic change are vastly underappreciated by both economists and the general public. Professor Diamond explains how discovery and development of new products and lower cost production methods of the past 250 years have transformed our lives and promoted human progress beyond even the dreams of our ancestors. Further, these dynamic improvements are continuing today at an even more rapid rate. This book brings the what, why, and how of human progress alive, and it does so in an understandable and entertaining manner. It is a must read for both the scholar and interested layperson.
James Gwartney, Professor of Economics, Florida State University. Co-author of Economics: Private and Public Choice, Economic Freedom of the World, and other works.
Gwartney’s advance praise is for:
Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.