Innovation pessimism: Has the ideas machine broken down? | The Economist - 0 views
-
There will be more innovation—but it will not change the way the world works in the way electricity, internal-combustion engines, plumbing, petrochemicals and the telephone have. Mr Cowen is more willing to imagine big technological gains ahead, but he thinks there are no more low-hanging fruit. Turning terabytes of genomic knowledge into medical benefit is a lot harder than discovering and mass producing antibiotics.
-
But Pierre Azoulay of MIT and Benjamin Jones of Northwestern University find that, though there are more people in research, they are doing less good. T
-
One factor in this may be the “burden of knowledge”: as ideas accumulate it takes ever longer for new thinkers to catch up with the frontier of their scientific or technical speciality. Mr Jones says that, from 1985 to 1997 alone, the typical “age at first innovation” rose by about one year.
- ...5 more annotations...