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Radu Marian

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TED Talks: The Official TED Guide to Public Speaking

by Chris J. Anderson

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Dec 29, 2019 07:24AM

“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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“A businessman who expects his output to be stolen, expropriated, or entirely taxed away will have little incentive to work, let alone any incentive to undertake investments and innovations.”
― Daron Acemoğlu, Why Nations Fail: The Origins of Power, Prosperity, and Poverty

21 likes