Creative destruction definition6/10/2023 ![]() ![]() In the early 20th century, Joseph Schumpeter, an Austrian economist made entrepreneur the centre of innovation cycles and how markets can be disrupted. This kind of economic thinking cares less about capital accumulation and thinks more about how open innovation and ideas can drive economic growth and development. Innovation economics is a field that combines many economic theories that deal with the question of how knowledge, entrepreneurship and innovation can lead to economic development. But before asking or thinking about these important questions let us think about something more basic, the relation between economic growth and innovation. The goal of these questions is not to know the right answer, the goal is to understand different visions of the future, or at least how our experts are thinking about this important question. I argue it is great to think and ask this kind of question and they should not be taken as pessimistic thinking. Will AI destroy the world and/or become our ruler?Īnd other questions about the future of our societies with respect to AI. ![]() If an AI enthusiast had a chance to ask their favourite or most respected intellectual today, the most probable question is:
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