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Fall 2009

ISSN 0890-913X

Volume 25, Number 1

Categories: Education | Fall 2009

Using Video Clips to Teach Creative Destruction

Arthur M. Diamond, Jr., University of Nebraska Omaha

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EDUCATIONALNOTETheJournalofPrivateEnterprise25(1),2009,151-161UsingVideoClipstoTeachCreativeDestructionArthurM.Diamond,Jr.*UniversityofNebraskaatOmahaAbstractStoriesarememorableandconvincing.Onewaytoefficientlytellstoriesisthroughmovieandvideoclips.IsummarizeseveralvideoclipsthatmaybeusefulinteachingaspectsofSchumpeter’simportanttheoryofcreativedestruction.Amongtheclipsdiscussedare:HughLaurie’sProtestSong,electriclightsegmentfromadocumentaryonthe1898Trans-MississippiExposition,eBayToyBoatAd,MissPrincessFunBrickAd,Moscowtoiletpaperqueuescene,theNewYorkcoffeeaislescenefromMoscowontheHudson,andPeckandDeVito’sspeechesfromOtherPeople’sMoney.JELCodes:A2,O31,O43Keywords:Movies;Video;Creativedestruction;Innovation;SchumpeterI.IntroductionJosephSchumpeterisrightthatcreativedestructionistheessentialfactaboutcapitalism.1Andbecausecreativedestructionistheessentialfactaboutcapitalism,itisimportanttofindwaystoeffectivelycommunicatetheconcepttostudents.Formanyofusapictureisindeedworthathousandwords.Andacorollarymaybethatavideoisworthathousandpictures.*IfirstheardoftheeBayToyBoatAdfromapresentationbyRussellRoberts.MattHunteralertedmetothediscussionofSchumpeteronTheWestWing.EarlierversionsofthepaperwerepresentedattheannualmeetingsoftheAssociationofPrivateEnterpriseEducationinLasVegas,NV,onApril7,2008,andattheWorkshoponCreativeIdeasforTeachingEconomics,inTampa,FL,onFebruary6,2009.IappreciatethefeedbackfromJamesGwartney,JoeCalhoun,andothersessionparticipants.IamalsogratefulforhelpfulcommentsfromEdStringhamandtwoanonymousreferees.1ThecasethatcreativedestructionmattershasbeenmadeinDiamond2006,2007a,2007b,andforthcoming.151

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Metadata [hide]

Title	Using Video Clips to Teach Creative Destruction
Authors/Creators:	Arthur M. Diamond, Jr., University of Nebraska Omaha
Year:	2009
Volume:	25
Number:	1
Pages:	151 - 161
Publisher:	The Association of Private Enterprise Education
ISSN:	0890-913X
Document Type:	Educational Notes
Keywords:	Economic Education, Movies, Video, Creative destruction, Schumpeter, Innovation, Entrepreneurship

Citation:
Diamond, Jr., Arthur M. / 2009. "Using Video Clips to Teach Creative Destruction." The Journal of Private Enterprise, 25(1): 151-161.