Clayton Christensen, Harvard-professor and author of the seminal book The Innovator’s dilemma, couldn’t foresee that within two decades a lot would change in how innovation unfolds. While in the past disruptive innovation and recessions only brought temporary job losses that were recovered within a few months, something fundamentally has changed. The economic crisis from 1992, 2001 and 2008 show an ever increasing period until job numbers were at the same level as pre-crisis.

It took him some time to understand what has changed and in this talk given in 2013 he dives into the details. And it’s clear that a part of the fault lies with the economist community. The introduction of economic metrics and ratios changed the balance between the three types of innovation that he has identified. Not to the better, but the worse. And this has accelerated job losses and the increasing income-gap.

Watch his talk at this 2013 panel on The Capitalitst’s Dilemma.

Clayton Christensen also has a new book titled Competing Against Luck: The Story of Innovation and Customer Choice.