Arthur M. Diamond, Jr. earned graduate degrees in philosophy and in economics from the University of Chicago, where he also was awarded a Post-Doctoral Fellowship with economics Nobel Prize laureate Gary Becker. He has been on the faculty of the Department of Economics of The Ohio State University and is currently Professor of Economics at the University of Nebraska Omaha. Most years he teaches graduate seminars on Economics of Entrepreneurship and Economics of Technology.

Diamond has published many journal articles on labor economics, economics of technology, and economics of entrepreneurship. His latest book, Openness to Creative Destruction: Sustaining Innovative Dynamism, shows how life has improved through innovation, how innovation has occurred through the efforts of inventors and innovative entrepreneurs, how workers on balance benefit from a system of innovative dynamism, and how policies can be crafted to encourage the innovative entrepreneur to bring us more innovations.