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Openness to Creative DestructionSustaining Innovative Dynamism$
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Arthur M., Jr. Diamond

Print publication date: 2019

Print ISBN-13: 9780190263669

Published to Oxford Scholarship Online: June 2019

DOI: 10.1093/oso/9780190263669.001.0001

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The Benefits: Morality, Equality, Mobility, Culture, and the Environment

The Benefits: Morality, Equality, Mobility, Culture, and the Environment

(p.107) 8 The Benefits: Morality, Equality, Mobility, Culture, and the Environment
Openness to Creative Destruction

Arthur M. Diamond Jr.

Oxford University Press

The wealth received by some innovative entrepreneurs is fair because of the large benefits of their innovations. Widespread flourishing under innovative dynamism encourages tolerance of diversity, respect for the rights of others, more effective sympathy, and cultural diversity. The equality that matters most is that everyone has roughly an equal chance to improve their lives. The quantity of resources expands, because inventors and entrepreneurs create new uses for old materials. For example, process innovations in agriculture, such as the Haber-Bosch process for creating fertilizer from nitrogen in the air, mean that an abundance of food can be grown with less land, encouraging the greening of the planet. Innovations can allow us to adapt to modest and slow global warming. If global warming becomes greater and faster, other innovations can produce energy with less carbon, can increase the sequestration of carbon, and can counter the increase in temperature through geoengineering.

Keywords:   toleration of diversity, mobility versus equality, entrepreneurial wealth, growing cultural diversity, entrepreneurial philanthropy, effective sympathy, resource exhaustion, global warming adaptations, Haber-Bosch, geoengineering

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