Credit: Shutterstock
Modern-day inventors – even those in the league of Steve Jobs – will have a tough time measuring up to the productivity of the Thomas Edisons of the past.
Stanford economists say tremendous continual increases in research and development will be needed to sustain even today’s low rate of economic growth.(Image credit: Shutterstock)
That’s because big ideas are getting harder and harder to find, and innovations have become increasingly massive and costly endeavors, according to new research from economists at the Stanford Institute for Economic Policy Research. (emphasis added)
As a result, tremendous continual increases in research and development will be needed to sustain even today’s low rate of economic growth.
Nicholas Bloom, a SIEPR senior fellow and co-author of a paperreleased this week by the National Bureau of Economic Research, contends that so many game-changing inventions have appeared since World War II that it’s become increasingly difficult to come up with the next big idea.
“The thought now of somebody inventing something as revolutionary as the locomotive on their […]
You can’t have unlimited growth on a limited planet. Look for a book on “steady state economics.”
We have probably overshot the Earth’s ability to sustain human life and we’ll pay a price for it.
Distribution of wealth and income will be a major topic for many years in the future, and may be decided by revolution.
These authors are thinking with dead ideas.
A quantum leap in human consciousness is likely the only thing that will bring this planet into a sustainable reality. Attempts to make the old paradigms work will fail miserably and surely bring about the 6th Extinction.