COULD FAILURE OF INNOVATION END ECONOMIC GROWTH? (COMMENT)

COULD FAILURE OF INNOVATION END ECONOMIC GROWTH? (COMMENT) In a comment, Henry Nejako followed on this post about how thermodynamic considerations can put a ceiling on economic growth at some point in in the next couple hundred years with a link to this article by Martin Wolf in the Financial Times. Martin Wolf’s essay endorses an article by Professor Robert Gordon whose title asks the question: “Is U.S. Economic Growth Over?” Here is an author’s summary of Professor Gordon’s paper. The paper suggests that economic growth will stop long before any thermodynamic limits or other supply constraints are reached. Economic growth will stop because innovation will grind to a halt.

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One Response to COULD FAILURE OF INNOVATION END ECONOMIC GROWTH? (COMMENT)

  1. Pingback: PREDICTING TECHNOLOGICAL CHANGE (COMMENT). | Pater Familias

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