Brian Albrecht Quoted in the New York Times on the 2025 Economics Nobel
New York Times
View Original Source
Brian Albrecht, ICLE Chief Economist, was quoted in the New York Times’s DealBook newsletter, where he explained the concept of “creative destruction” in the context of the 2025 Nobel Prize in Economics.
“Aghion and Howitt explained the role of “creative destruction,” an endless process in which new products displace older products. Aghion and Howitt, who split the second half of the award, argue that “competition for profit is what causes you to put in the effort to make a better product,” Brian Albrecht, the chief economist for the International Center for Law & Economics, told DealBook. “That in turn drives economic growth,” he added. For example, the release of the iPhone decimated BlackBerry’s market share.”
Read the full article here.