Results

Journal article

American Economic Review:

Nobel lecture: The economics of creative destruction

The expression "creative destruction" was coined by Joseph Schumpeter to describe the process whereby new innovations displace old technologies. Schumpeter himself would acknowledge a filiation with Karl Marx, and more p...Read more...

CentrePiece article

Philippe Aghion: explaining sustained growth through creative destruction

How the study of innovation and competition has been transformed....Read more...

Blog

European Economic Association:

2025 Nobel Laureate: Philippe Aghion

John Van Reenen writes about the profound influence of Nobel laureate Philippe Aghion's work not only on growth and industrial organisation, but also on fields as diverse as trade, labour, taxation, the environment, poli...Read more...

Chapter

Fostering green and inclusive productivity growth

in The London Consensus

This chapter explains the main ideas underpinning the Schumpeterian growth paradigm and how it provides a new lens to look at the determinants and effects of the growth process. Schumpeter was pessimistic about the futur...Read more...

CentrePiece article

Public sector relocation: lessons from the BBC?s move to Salford

Moving public agencies out of London was a major plank of the levelling-up agenda. Max Nathan, Henry Overman, Capucine Riom and Maria Sanchez-Vidal show how the BBC?s move to Salford had a positive effect on the local ec...Read more...

CentrePiece article

Why people like living in cities: a new measure of the quality of life

People like to live in certain places, even when higher wages are on offer elsewhere. Gabriel Ahlfeldt, Fabian Bald, Duncan Roth and Tobias Seidel show that once people?s preferences are considered, big cities offer a hi...Read more...

Journal article

Economic Geography:

Don?t shoot the pianist: creative firms, workers, and neighbourhood gentrification

We examine links between creative activity and gentrification at the neighbourhood level. These dynamics are both complex and important to understand. Artists may help `upgrade? inexpensive neighbourhoods before being di...Read more...

CEP discussion paper

Multipliers from a major public sector relocation: the BBC moves to Salford

This paper considers the impact of a major public sector relocation: the British Broadcasting Corporation's partial move from London to Salford, Greater Manchester starting in 2011. We identify effects of the move, using...Read more...

Blog

LSE Review of Books:

Creative destruction for growth and change

John Van Reenen introduces his new book, The Economics of Creative Destruction, co-edited with Ufuk Akcigit, which explores how technological innovation can be used to drive growth and tackle problems from inequality to ...Read more...

Journal article

Regional Studies:

Trade in creative services: relatedness and regional specialization in the UK

Creative services have become an important, but understudied, part of global trade. This paper presents new evidence on the transformation, geography and industrial relatedness of creative service exports in the UK, usin...Read more...

Journal article

Economic Geography:

Creative clusters and creative multipliers: evidence from UK cities

Economic geographers have paid much attention to the cultural and creative industries, both for their propensity to cluster in urban settings, and their potential to drive urban economic development. However, evidence on...Read more...

Blog

VoxEU:

Fair and inclusive markets: why fostering dynamism matters

Philippe Aghion, Reda Cherif and Fuad Hasanov explain how economic dynamism is crucial for achieving inclusive growth and shared prosperity....Read more...

Blog

VoxEU:

Tracking business dynamism during the Covid-19 pandemic: new cross-country evidence and visualisation tool

Stefano Agresti, Flavio Calvino, Chiara Criscuolo, Francesco Manaresi and Rudy Verlhac employ a new data visualisation tool to reveal the impact on business dynamism of the Covid-19 crisis in 2020 and in recovery. Findin...Read more...

CEP discussion paper

Product market competition, creative destruction and innovation

We examine the economic analysis of the relationship between innovation and product market competition. First, we give a brief tour of the intellectual history of the area. Second, we examine how the Aghion-Howitt framew...Read more...

Blog

Knowledge:

Rethinking capitalism: the power of creative destruction

Philippe Aghion and Isabelle Laporte explain how, with the proper safeguards, creative destruction - the process by which the new replaces the old - remains the way to greater economic growth and prosperity....Read more...

Journal article

Regional Studies:

Creative differences? Measuring creative economy employment in the United States and the UK

This paper compares the creative economies of the US and the UK regions and nations using high-quality administrative microdata spanning the period 2011?13. The creative industries are highly urbanized in both countries....Read more...

CEP discussion paper

Creative Destruction with On-the-Job Search

This paper is about the labour market consequences of creative destruction with on-the-job search. We consider a matching model in an economy with embodied technological progress and show that its dynamics are profoundly...Read more...

CEP discussion paper

Productivity Growth and Employment: Theory and Panel Estimates

Theoretical predictions of the effect of TFP growth on employment are ambiguous, and depend on the extent to which new technology is embodied in new jobs. We estimate a model for employment, wages and investment with an ...Read more...

Journal article

Econometrica:

A model of growth through creative destruction

A model of endogenous growth is developed in which vertical innovations, generated by a competitive research sector, constitute the underlying source of growth. Equilibrium is determined by a forward-looking difference e...Read more...