“By all appearances, we’re in a golden age of innovation. Every month sees new advances in artificial intelligence, gene therapy, robotics, and software apps. Research and development as a share of gross domestic product [of the U.S.] is near an all-time high. There are more scientists and engineers in the U.S. than ever before. None of this has translated into meaningful advances in Americans’ standard of living.” The question I address here is why.
The essay is at "Golden Age of Innovation."
1. Greg Ip, “Economic Drag: Few Big Ideas,” The Wall Street Journal, December 7, 2016.