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Recent Nobel laureate in economics Peter Howitt joins Jack to discuss his work on technological disruption and creative destruction. Dr. Howitt explains that technological advancement creates economic growth while also causing workers to lose their jobs and firms to go bankrupt due to obsolescence. This topic is especially relevant today because of the advancement of artificial intelligence technology. Jack and Dr. Howitt examine if artificial intelligence is truly economically different from past technological breakthroughs, the effects of its adoption, and more. Recorded on February 12th, 2026. Follow Jack Farley on Twitter https://x.com/jackfarley96 Follow Monetary Matters on: Apple Podcasts https://rb.gy/s5qfyh Spotify https://rb.gy/x56dx5 YouTube https://rb.gy/dpwxez Timestamps 00:00 Intro 01:22 Model of Creative Destruction 10:03 Displacement by Artificial Intelligence 17:44 Could A.I. Cause Mass Unemployment? 30:30 Technological Change & the Great Depression 34:17 Productivity Gains from A.I. 39:29 Economic Growth Factors 47:49 Displacement of Business by New Technology & Innovation 59:17 A.I. Capital Expenditure Compared to Past Periods of Technological Development 01:03:02 Can A.I. Create Massive Growth? 01:04:40 Technology & Monopoly 01:07:11 Dr. Howitt & Creative Destruction 01:11:05 Other Areas of Dr. Howitt’s Study #economy #economics #artificialintelligence #ai #macro #technology #unemployment #jobdisplacement #economicgrowth #history