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February 11, 2019

George Bittlingmayer Offers Advance Praise for Openness to Creative Destruction



For tens of thousands of years, before the Age of Innovation, human beings merely survived by hunting, gathering or tilling, and lived in caves or dirty, squalid huts. In marked contrast, the average person alive today enjoys a standard of living and access to entertainment, medical services, travel, and communications technology that our ancestors would have regarded as miraculous. Art Diamond skillfully shows how we got the many wonders we take for granted - everything from indoor plumbing to SUVs to iPhones - by telling the stories of the determined tinkerers, iconoclasts and visionaries who wouldn't take "no" for an answer. They succeeded because they were willing to wage the good fight and because they could draw on flawed but ultimately supportive legal, cultural and economic institutions. Diamond also addresses the question of whether the Age of Innovation has run its course, and he provides a timely warning about the dangers that current political and intellectual forces pose to the many potential innovations yet to come. The Age Innovation may end, but whether it does is largely in our hands.


George Bittlingmayer, Economist, Angel Investor, and Professor Emeritus, University of Kansas.



Bittlingmayer's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






February 3, 2019

Michael Barrier Offers Advance Praise for Openness to Creative Destruction



Walt Disney has been written about as an artist and an entrepreneur. The central virtue of Art Diamond's book is that he not only writes about Disney in both roles, but he also explains how Disney's success in each role strengthened his success in the other.


Michael Barrier, animation historian. Author of The Animated Man: A Life of Walt Disney, and other works



Barrier's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






January 26, 2019

Bruce Yandle Offers Advance Praise for Openness to Creative Destruction



In writing Openness to Creative Destruction, Art Diamond has penned a timely and compelling discussion of innovative dynamism, words he chooses to describe the vital wealth-creating features of the US economy. As the book's title suggests, Diamond, like Joseph Schumpeter before him, using lots of data and strong anecdotes, explains how innovation--the discovery and implementation of new products, services, and processes for providing them--drives prosperity. Dynamism, though not automatic but sometimes constrained by government regulation, relates to how growth, change and search for future equilibriums are features of US markets. A strongly written and deeply documented book, Openness deserves to be read by all who want a better understanding of how the US economy is performing now and how future performance can be improved.


Bruce Yandle, Dean Emeritus, Clemson University College of Business & Behavioral Science and Distinguished Adjunct Fellow, Mercatus Center at George Mason University.



Yandle's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






January 18, 2019

Young Back Choi Offers Advance Praise for Openness to Creative Destruction



In this excellent book, Arthur Diamond offers a spirited defense of open and free market system, saying that much of the complaints against capitalism is based on (1) mistakenly conflating free market competition with cronyism, and (2) grossly under-appreciating the innovative entrepreneur's ability to solve problems in all sorts of areas--in the past and in the future. One of the central claims of the author, based on his understanding of the epistemology of innovation, namely, the necessity of self-funding of all breakthrough entrepreneurs, underlines the need for open and competitive markets if we are to enjoy in the future benefits of innovative dynamism, as we have in the past.


Young Back Choi, Professor of Economics and Finance, St. John's University. Author of Paradigms and Conventions: Uncertainty, Decision Making, and Entrepreneurship.



Choi's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






January 10, 2019

Michael C. Munger Offers Advance Praise for Openness to Creative Destruction



Creative destruction is the mainspring that animates growth and prosperity. Few people fully understand creative destruction; fewer still can explain it. In this remarkable book, Diamond uses compelling stories and plain English to construct the case for creative destruction, extending Schumpeter's deep insights into the 21st century.


Michael C. Munger, Professor of Political Science, and Director, PPE Program, Duke University. Author of Tomorrow 3.0: Transaction Costs and the Sharing Economy, and other works.



Munger's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






January 2, 2019

James Gwartney Offers Advance Praise for Openness to Creative Destruction



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.






December 25, 2018

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.






December 17, 2018

Tyler Cowen Offers Advance Praise for Openness to Creative Destruction



What are the benefits of innovative dynamism? Arthur Diamond lays out the clearest positive case to date for innovation in this highly readable and historically comprehensive work.


Tyler Cowen, Professor of Economics, George Mason University; Director of Mercatus Center; "Economic Scene" columnist for the New York Times; blogger for Marginal Revolution. Author of In Praise of Commercial Culture, Creative Destruction, The Great Stagnation, The Complacent Class, and many other works



Cowen's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






December 9, 2018

Jason Potts Offers Advance Praise for Openness to Creative Destruction



What explains innovative dynamism? Art Diamond has written a fantastic book exploring how strong property rights, not innovation systems, should be the basis of modern innovation policy. He has done a great job in setting out the case for a classical liberal approach to innovation and technology policy, and carefully counters many of the common arguments supporting interventionist policy models. The book is full of lucid and compelling case studies and will be popular among innovation scholars and policy-makers.


Jason Potts, Professor of Economics, Royal Melbourne Institute of Technology (RMIT), Director of Blockchain Innovation Hub at RMIT. Author of The New Evolutionary Economics, and other works.



Potts's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.






December 1, 2018

Stephen Moore Offers Advance Praise for Openness to Creative Destruction



An invaluable reminder that all human progress derives from innovation, entrepreneurship and inventiveness. Wealth creation depends on creative destruction.


Stephen Moore, economist at the Heritage Foundation, economics commentator on CNN. Co-author of It's Getting Better All the Time, and other works.



Moore's advance praise is for:

Diamond, Arthur M., Jr. Openness to Creative Destruction: Sustaining Innovative Dynamism. New York: Oxford University Press, forthcoming June 2019.







November 27, 2018

Openness to Creative Destruction: Sustaining Innovative Dynamism



My book Openness to Creative Destruction: Sustaining Innovative Dynamism, is forthcoming from Oxford University Press in June 2019.

The book shows how life has improved through innovation, how innovation has occurred through the efforts of inventors and innovative entrepreneurs, how workers on balance benefit from a system of innovative dynamism, and how policies can be crafted to encourage the innovative entrepreneur to bring us more innovations.

A PDF of a handout that includes the current draft of the Table of Contents of my book can be found on the first page of artdiamond.com.

Several scholars have graciously looked at an advance copy of my book, and offered me early praise for it. During the next several weeks I occasionally will present some of their comments. (These will be presented roughly in the order in which I received them.)






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