The Economics of Creative Destruction

“Thirty years ago, Philippe Aghion and Peter Howitt wrote their seminal article on the theory of creative destruction, one of the most cited papers in modern economics. This exciting collection shows the power of the creative destruction concept in unifying microeconomics and macroeconomics. Authors explore the relation between innovation and competition, the effects of globalization and trade, the impact of creative destruction on inequality and displaced workers, the sources of declining productivity growth, the challenges of climate change and the green transition, and much more.”—Robert J. Gordon, author of The Rise and Fall of American Growth

“These contributions to the study of economic growth by leading experts in the field highlight the major advances of the last three decades. This book will be an invaluable reference for researchers interested in this exciting area.”—Daron Acemoglu, coauthor of The Narrow Corridor: States, Societies, and the Fate of Liberty

“One could not imagine a better tribute to Aghion and Howitt than this impressive set of papers by renowned scholars. It builds on their creative destruction framework and sheds further light on the underpinnings and implications of growth and innovation.”—Jean Tirole, author of Economics for the Common Good