Why the 5 stars? I’d give it 10 if I could. My guess is few people expect a book on economic policy or theory to be a pleasurable read, but this book is full of examples, anecdotes, and history that brings the author’s ideas to life, making it enjoyable. While being a good read may drive sales, more importantly for voters and the politicians that pander to us, it shows just how important a dynamic economy is. Lost jobs and bankrupt companies are a lot easier to mourn and fight to keep than jobs and companies that never were or aren't yet, but the necessity of that sometimes unpleasant churn becomes obvious as you read the book.
As a longtime reader of the author’s blog (artdiamondblog.com) I started the book with the expectation it would provide policy suggestions and examples supportive of a dynamic economy and Diamond does so masterfully throughout each chapter. The book is easy to follow and understand as the chapters are systematically organized and labeled.
The wonder of the book is the breadth of examples Diamond uses to show economic theory at work. A sentence from page 47 seems to capture Diamond’s style: “The best answer to such fears is to recount the past cases, such as the three just mentioned, where the fears have proved unfounded.” In that instance Diamond is referring to people who fear new technologies, and instead of relying on economic theory to explain why such thinking is wrong, he shows how it works in the “real world.” He uses this “show me” system over and over throughout the book, recounting a wide variety of instances that support his arguments. The author’s seemingly endless and boundless examples are what make it such an interesting read.
For someone who worries about our country’s future and what will be passed on to future generations, my hope is lots of people will take the time to read this fantastic book. The reader will come away with not only an understanding and appreciation for innovative dynamism as a system, but also an assortment of historical yarns that are themselves meaningful.
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![Openness to Creative Destruction: Sustaining Innovative Dynamism by [Arthur M. Diamond, Jr.]](https://m.media-amazon.com/images/I/41l6sSRnblL._SY346_.jpg)
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