Tyler Cowen, an economist and blogger, recently published an eBook entitled “The Great Stagnation“, which charts the gradual decline in innovation in the United States and its effect on the global economy. Here he is discussing the book and its hypothesis at a TED event:
His argument is certainly a persuasive one. One has to believe, though, that the stagnation he’s identified will only be temporary. The Internet, plus forthcoming changes in energy generation and use (new battery types, hydrogen fuel, etc.) seem to portend a new wave of innovation that will completely reshape society.