Uploaded December 2025 | Updated September 2026, 1 week ago

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Is AI going to take our jobs, or is it the key to the next great economic leap? Joseph Schumpeter called it "Creative Destruction": the process of destroying the old to create the new. The 2025 Nobel Prize laureates have finally built the math behind this theory. Join us as we break down the science of innovation-driven growth and why the "turbulence" of new technology is actually the essential fact of modern life.

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Credits:
Written by Sergio Martínez
Produced by Daphne Posadas
Edited by Luis Fernando López
Project Management by Abby Richardson
Thumbnail Design by Yorel Ktech

Links:
fee.org/archive?utm_source=youtube&utm_medium=social&utm_campaign=youtube-description
fee.org/ebooks?utm_source=youtube&utm_medium=social&utm_campaign=youtube-description
fee.org/newsletters?utm_source=youtube&utm_medium=social&utm_campaign=youtube-description

Articles:
fee.org/articles/fees-five-best-economics-books-of-2025
fee.org/articles/the-2025-nobel-prize-in-economics

00:00 - The Centuries of Stagnation vs. The Modern Leap
00:42 - Introducing the 2025 Nobel Laureates in Economic Sciences
01:02 - Joseph Schumpeter and Creative Destruction
01:44 - Joel Mokyr: Macro vs. Micro Inventions
02:28 - Knowledge Fusion and the Republic of Letters
03:34 - Philippe Aghion & Peter Howitt: The Math of Creative Destruction
04:25 - The Quality Ladder: Why Rich Countries Keep Growing
05:07 - The Inverted U: Competition vs. Innovation
06:01 - AI and the Future of Economic Turbulence