Innovation Nation—Or Stagnation? | The Drucker Exchange: "Nothing’s new in the kitchen. All the appliances, apart from the SaladShooter, were invented decades ago. The automobile isn’t much changed since the Model T. All we’ve been doing is adding new ornaments to old innovations, and the days when technology gave rise to millions of new jobs are long gone.
That, at least, is the argument of economist Tyler Cowen in his new book, The Great Stagnation. A “PBS NewsHour” segment this week explored Cowen’s argument and posed a provocative question: “Why hasn’t recent technology created more jobs?”
Cowen’s answer is simple: We’re inventing new things, but not enough of them. We’ve picked the low-hanging fruit. “The rate of progress has slowed down,” he said. “And this is our central economic problem today.”"
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