Nobel Prize Vindicates Economic Nationalism, Part III: When Creative Destruction Fails
Today is the third and final part in our series exploring the theories of Joel Mokyr, Philippe Aghion, and Peter Howitt — the winners of the 2025 Nobel Prize in Economics — which explore how innovation drives growth.
In Monday’s Breitbart Business Digest, we examined Mokyr’s research on political fragmentation and sovereignty. Yesterday, we explored how Aghion and Howitt’s theory of creative destruction reveals why China’s IP theft kills innovation. Today, we will review Aghion’s empirical discovery that offshoring destroys communities in ways that domestic innovation does not.
We’ll examine what happened when economists tested those theories against real-world data and discovered a truth that validates what Rust Belt voters have been saying for decades.
Not all job destruction is created equal. The effects on communities depend entirely on what’s destroying the jobs.
Offshoring Destroys Innovation: Aghion’s Later Discovery
Building on the creative destruction framework that won him the Nobel Prize, Philippe Aghion later conducted empirical research that revealed a politically explosive finding: not
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