Creative Destruction and US Economic Growth

11 Pages Posted: 17 Jun 2022

See all articles by Philippe Aghion

Philippe Aghion

College de France and London School of Economics and Political Science, Fellow; Centre for Economic Policy Research (CEPR); National Bureau of Economic Research (NBER)

Peter Howitt

Brown University

Date Written: June 17, 2022

Abstract

This paper argues that the growth of large, efficient but anticompetitive superstar firms is responsible for the recent slowdown in US economic growth. The argument is based on the growth theory that we have previously developed and tested, which is based on the concept of creative destruction.

Keywords: Economic Development, Innovation, Technological Change, and Growth, Antitrust Issues and Policies, Institutions and Growth

JEL Classification: O00,L40,O43

Suggested Citation

Aghion, Philippe and Howitt, Peter, Creative Destruction and US Economic Growth (June 17, 2022). Capitalism & Society, Volume 16, Issue 1 (2022), Available at SSRN: https://ssrn.com/abstract=4138770

Philippe Aghion

College de France and London School of Economics and Political Science, Fellow ( email )

London
United Kingdom

Centre for Economic Policy Research (CEPR)

London
United Kingdom

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

Peter Howitt (Contact Author)

Brown University

Box 1860
Providence, RI 02912
United States

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