Zero to One: Notes on Startups, or How to Build the Future · chapter 3 · id zero-to-one-c3-08-economists-static-view-of-mono

“Economists' static view of monopoly vs. competition misses the dynamic nature of technology markets where today's monopolist funds tomorrow's disruption.”

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Receipts

Schumpeter (1942) -- Capitalism, Socialism, and Democracysource alive

Schumpeter argued that the 'perennial gale of creative destruction' matters more than static equilibrium: monopoly profits fund the next wave of innovation, making temporary monopoly beneficial to long-run economic growth.

Peter Klein -- Mises Institutesource alive

Thiel overstates economists' blindness to dynamic competition. Austrian economics has emphasized dynamic competition and creative destruction since Schumpeter. Thiel's 'economists don't understand' claim is itself a straw man.

This claim is a stable, citable object. If you can falsify a verdict, tell us — corrections are loud here.