America isn't innovating like it used to. And by "like it used to," I mean the period from after World War II to 1973, when an explosion of new technologies increased worker productivity at a pace that, had it continued to the present day, would mean an increase in the average worker's wage of 51 percent, or $18 per hour. (This difference is represented by the gray area in the graph, above.)
That's just one of the surprising (at least to me) long-term trends explained in a new report from The Brookings Institution, A Dozen Economic Facts About Innovation, which delves into everything from the reasons for wage stagnation among middle-income men to the effects of innovation on life expectancy. (I'll be delving into more of the report's findings starting next week, and linking the results into a series.)
To read the full, original article click on this link: Why Isn't America Innovating Like It Used To? - Technology Review
Author: CHRISTOPHER MIMS
