Creative Destruction: In Search of the Knowledge Economy

Oct 17, 2006


Dr. Bruce Yandle
Professor Emeritus and BB&T Scholar
Clemson University

Click Here to view Dr. Yandle's powerpoint presentation.

The pendulum of economic history is on the move.  Much like the late 1800s and the 1950s, the current American economy is currently experiencing a period of massive creative destruction.  New economies are constantly being created while lower wealth producing activities are destroyed. 

In order to understand this transformation, one must understand the rise of the knowledge economy.  What is the knowledge economy and how does it affect the overall economy?  To address this very timely and important issue, the Mercatus Center at George Mason University will feature Dr. Bruce Yandle of Clemson University to discuss America's challenging transformation into a knowledge economy and how that transition is faring in different states throughout the country.

Dr. Yandle will lead course participants in an interactive discussion, exploring the following questions:

  • What is the knowledge economy and how does it affect various regions of the United States?  How well are certain states adjusting to the transition to the knowledge economy?
  • How can policymakers mitigate the effects of creative destruction on those harmed by the transition to a knowledge economy?
  • What are the underlying economic principles at play and what can we learn from them?  What does economics have to say about creative destruction?
  • What does history have to say about the current economic environment?  What can we expect in the near future?