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Daron Acemoğlu

“Economic growth and technological change are accompanied by what the great economist Joseph Schumpeter called creative destruction. They replace the old with the new. New sectors attract resources away from old ones. New firms take business away from established ones. New technologies make existing skills and machines obsolete.”

Daron Acemoğlu, Why Nations Fail: The Origins of Power, Prosperity, and Poverty
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Why Nations Fail: The Origins of Power, Prosperity, and Poverty Why Nations Fail: The Origins of Power, Prosperity, and Poverty by Daron Acemoğlu
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