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While I don’t know how Obamacare will turn out, I’m certain that my two favorite Obama initiatives will be transformative.

His Race to the Top program in education has already set off a nationwide wave of school reform, and his Race to the Top in vehicles — raising the mileage standards for American-made car and truck fleets from 27.5 miles per gallon to 54.5 m.p.g. between now and 2025 — is already spurring a wave of innovation in auto materials, engines and software.

they are the future of progressive politics in this age of austerity: government using its limited funds and steadily rising performance standards to stimulate states and businesses to innovate better economic, educational and environmental practices.

Innovations of the Industrial Revolution

have we run out of things to say and write that actually are about technology and the companies behind them? Or do we feel compelled to fill the white space between what matters? Sort of like talk radio?

There have been three big innovation narratives in the last few years that complicate, but don't invalidate, my thesis. The first -- The Rise of the Cloud -- was essentially a rebranding of having data on the Internet, which is, well ... what the Internet has always been about. Though I think it has made the lives of some IT managers easier and I do like Rdio. The second, Big Data, has lots of potential applications. But, as Tim Berners-Lee noted today, the people benefiting from more sophisticated machine learning techniques are the people buying consumer data, not the consumers themselves. How many Big Data startups might help people see their lives in different ways? Perhaps the personal genomics companies, but so far, they've kept their efforts focused quite narrowly. And third, we have the daily deal phenomenon. Groupon and its 600 clones may or may not be good companies, but they are barely technology companies. Really, they look like retail sales operations with tons of sales people and marketing expenses.

we've reached a point in this technology cycle where the old thing has run its course. I think the hardware, cellular bandwidth, and the business model of this tottering tower of technology are pushing companies to play on one small corner of a huge field.

“Bourgeois Dignity” is both the title of a recent book by the economic historian Deirdre N. McCloskey and, she argues, the attitude that accounts for the biggest story in economic history: the explosion of growth that took northern Europeans and eventually the world from living on about $3 a day, give or take a dollar or two (in today’s bu

ing power), to the current global average of $30 -- and much higher in developed nations

That change, she argues, is way too big to be explained by normal economic behavior, however rational, disciplined or efficient

the history of American capitalism has emerged as a thriving cottage industry. This new work portrays capitalism not as a given (something that “came in the first ships,” as the historian Carl Degler once wrote) but as a system that developed over time, has been constantly evolving and penetrates all aspects of society.

Slavery plays a crucial role in this literature. For decades, historians depicted the institution as unprofitable and on its way to extinction before the Civil War (a conflict that was therefore unnecessary).

cotton, the raw material of the early Industrial Revolution, was by far the most important commodity in 19th-century international trade and that capital accumulated through slave labor flowed into the coffers of Northern and British bankers, merchants and manufacturers. And far from being economically backward, slave owners pioneered advances in modern accounting and finance.

“How We Got to Now” divides technological history into six thematic areas — glass, cold, sound, cleanliness, time and light.

the ones here function more like departure points for sets of skillfully interwoven narratives. To take the example of glass, we begin with a formation of molten silica, probably by a crashing comet, 26 million years ago in the Libyan desert. In due course we move to the glassmakers of Venice in the 13th century. And then things get more interesting. Monks laboring over religious manuscripts find that curved pieces of glass can aid their vision; a few centuries later, spectacles become popular, because parts of the European population, in response to the invention of the printing press, discover they need corrective lenses to read these new things called books. In time come telescopes and microscopes, which bring forth revolutionary ideas about stars and germs. Fiberglass eventually arrives, and soon we figure out how to make fiber optic glass cables, which carry pulses of laser light and zip petabytes of data around the globe.

I particularly like the cultural observations Johnson draws along the way. The invention and refinement of the glassmaking process, for example, also led to the production of high-quality mirrors. This helped painters like Rembrandt create startling works of self-portraiture; also, it coincided with a new generation of writers, Shakespeare included, willing to examine their characters’ interior lives with unprecedented scrutiny. “The mirror helped invent the modern self,” Johnson asserts. What’s more, “it set in motion a reorientation of society that was more subtle, but no less transformative, than the reorientation of our place in the universe that the telescope engendered.”

Fifty years ago, on April 19, 1965, chemist and reluctant entrepreneur Gordon E. Moore set out to graph the rapid rate of improvement in semiconductor-chip performance—and ended up discovering the heartbeat of the modern world. That discovery is what became known as “Moore’s Law,” which is the observation that performance (speed, price, size) of integrated circuits, aka microchips, regularly doubled every 18 months.

it has proved to be the most effective predictive tool of new chip generations, technology innovation and even social and cultural changes of the last half-century.

If some of the recent breakthroughs in atomic-level transistors, nanotechnology and biological computers prove fruitful, Moore’s Law could again accelerate, or at least continue to rule, for decades to come. It now seems more likely than ever that a thousand years from now, what will be remembered most about our time will be its stunning efflorescence of innovation and entrepreneurship. By then Moore’s Law will have become Moore’s Era.

The newfound Republican climate position can be summarized as follows: The climate problem is real, the Green New Deal is bad and the GOP needs a proactive climate solution of its own. Our big question is what form it should take.

There are essentially three ways to reduce emissions — regulations, subsidies and pricing. The first is the worst of all options for a party committed to free markets and limited government. Many Republican legislators are, therefore, gravitating toward the second option: tax credits and research-and-development spending to promote innovation. Those now introducing legislation along these lines deserve praise.

Republicans are correct to focus on clean-energy innovation as a crucial driver of climate progress.

Following in the footsteps of the great cultural critic Jacques Barzun, we can say that decadence refers to economic stagnation, institutional decay and cultural and intellectual exhaustion at a high level of material prosperity and technological development

Under decadence, Barzun wrote, “The forms of art as of life seem exhausted, the stages of development have been run through. Institutions function painfully. Repetition and frustration are the intolerable result.” He added, “When people accept futility and the absurd as normal, the culture is decadent.” And crucially, the stagnation is often a consequence of previous development: The decadent society is, by definition, a victim of its own success.

“What fascinates and terrifies us about the Roman Empire is not that it finally went smash,” wrote W.H. Auden of that endless autumn, but rather that “it managed to last for four centuries without creativity, warmth, or hope.”

Thanks to their ultralow fees and stellar long-term performance, these investment vehicles have soaked up more and more money since being developed by Vanguard’s Jack Bogle in the 1970s

as of 2016, investors worldwide were pulling more than $300 billion a year out of actively managed funds and pushing more than $500 billion a year into index funds. Some $11 trillion is now invested in index funds, up from $2 trillion a decade ago. And as of 2019, more money is invested in passive funds than in active funds in the United States.

Indexing has also gone small, very small. Although many financial institutions offer index funds to their clients, the Big Three control 80 or 90 percent of the market. The Harvard Law professor John Coates has argued that in the near future, just 12 management professionals—meaning a dozen people, not a dozen management committees or firms, mind you—will likely have “practical power over the majority of U.S. public companies.”

European art history began with early mobile anthropomorphic carvings in the Paleolithic era, as well as cave paintings reflecting the natural world. Europe took a distinct turn from other regions with the rise of the Greek empire, and Greek classical art and architecture influenced later European art for centuries. The Christian church influenced much of medieval art until the Renaissance, when a revival in classical ideas turned artistic attention to humanistic themes.

From 1100 onward, Gothic architecture experiments with innovations to construct wider, taller buildings in stone. This results in innovations such as the pointed arch and flying buttresses, as architects compete across Europe to build ever-taller cathedrals. Gothic painting develops later, as artists focus on religious scenes painted on panels or frescoes.

Around 1563, the Council of Trent adopts a propagandistic stance in which art is to stimulate the public's interest and faith in the Roman Catholic church. This is partially in response to the Renaissance and its subsequent developments, such as the Reformation.

Industrial Revolution, in modern history, the process of change from an agrarian and handicraft economy to one dominated by industry and machine manufacturing.

This process began in Britain in the 18th century and from there spread to other parts of the world.

The technological changes included the following: (1) the use of new basic materials, chiefly iron and steel, (2) the use of new energy sources, including both fuels and motive power, such as coal, the steam engine, electricity, petroleum, and the internal-combustion engine, (3) the invention of new machines, such as the spinning jenny and the power loom that permitted increased production with a smaller expenditure of human energy,

The London Underground is the oldest subway system in the world, so it might seem an unlikely source of innovation for one of the thorniest problems facing humanity in the 21st century: climate change.

While public transit is usually more environmentally friendly than other methods of travel, the Underground is playing a more direct role in a groundbreaking experiment to reduce greenhouse gas emissions from buildings.

The local council for the Borough of Islington in London has developed, planned and installed a way to provide heat and hot water for several hundred homes, a school and two recreation centers, all using otherwise-wasted thermal energy generated mostly by the electric motors and brakes of the Underground’s trains.

“I’ve been running my research lab for almost 30 years,” says Jennifer Doudna, a biochemist at the University of California, Berkeley. “And I can say that throughout that period of time, I’ve just never experienced what we’re seeing over just the last five years.”

the vaccine innovations stretch beyond mRNA: A “world-changing” vaccine for malaria, which kills 600,000 globally each year, is being rolled out in Ghana and Nigeria, and early trials for next-generation dengue vaccines suggest they may reduce symptomatic infection by 80 percent or more.

surveying the recent landscape of scientific breakthroughs, she says the last half-decade has been more remarkable still: “I think we’re at an extraordinary time of accelerating discoveries.”

ultimately, achieving the dream of explaining everything is too big an ask, even for an economist of Galor’s range. He is so devoted to the hidden long-run pulses that determine our destinies – geography, climate, diversity, the capacity to be future-oriented, the role of education, the rights and wrongs of Malthusian economics – that he neglects what is in full view

An account that purports to describe humanity’s journey without getting to grips with why some innovations – such as the three-masted sailing ship, printing press or computer – change civilisation while others are more ordinary, can only be incomplete. These “general-purpose technologies” not only have diverse origins, as he argues, but also require an extraordinary interplay between state funding, large markets, cultural readiness and capitalist organisation to get off the ground

Galor devotes little of his book to capitalism, the structure of states and the consequent dynamic interdependence between the public and private sectors, or the importance of Enlightenment values that unleashed notions of the public sphere and rule of law. These are gigantic omissions. His is a technocratic journey full of illuminating graphs, but strangely bloodless and neglectful of political economy in explaining humanity’s journey.

In 2010, Thomas Thwaites decided he wanted to build a toaster from scratch. He walked into a shop, purchased the cheapest toaster he could find, and promptly went home and broke it down piece by piece.

He decided to create the steel components first. After discovering that iron ore was required to make steel, Thwaites called up an iron mine in his region and asked if they would let him use some for the project. Surprisingly, they agreed.

When it came time to create the plastic case for his toaster, Thwaites realized he would need crude oil to make the plastic. This time, he called up BP and asked if they would fly him out to an oil rig and lend him some oil for the project. They immediately refused. It seems oil companies aren't nearly as generous as iron mines. Thwaites had to settle for collecting plastic scraps and melting them into the shape of his toaster case. This is not as easy as it sounds. The homemade toaster ended up looking more like a melted cake than a kitchen appliance.

Of the many wealthy donors working to shape the future of the Republican Party, none has inspired greater fascination, confusion, and anxiety than billionaire venture capitalist Peter Thiel. 

Thiel’s current outlook may well make him a danger to American democracy. But assessing the precise nature of that threat requires coming to terms with his ultimate aims—which have little to do with politics at all. 

Thiel is, first and foremost, a dynamist—someone who cares above all about fostering innovation, exploration, growth, and discovery.

the Collins English Dictionary has come to a similar conclusion about recent history. Topping its “words of the year” list for 2022 is permacrisis, defined as an “extended period of insecurity and instability”. This new word fits a time when we lurch from crisis to crisis and wreckage piles upon wreckage

The word permacrisis is new, but the situation it describes is not. According to the German historian Reinhart Koselleck we have been living through an age of permanent crisis for at least 230 years

Koselleck observes that prior to the French revolution, a crisis was a medical or legal problem but not much more. After the fall of the ancien regime, crisis becomes the “structural signature of modernity”, he writes. As the 19th century progressed, crises multiplied: there were economic crises, foreign policy crises, cultural crises and intellectual crises.

while we tend to focus on stories about everything that has gone wrong, in the long run, the bigger news always ends up being the impact of growth and innovation. But because we’re so pre-occupied with everything else, it tends to sneak up on us.

In the left’s view, market crashes and recessions reveal the real essence of the capitalist system. In reality, they are just temporary glitches and setbacks in a larger story of persistent innovation and growth.

new figures showing the widening gap in wealth between the US and Europe. Jim Pethokoukis describes it as a Doom Loop of Decline and attributes it partly to the impact of heavy European regulation.