Why Aren’t More Patents Leading to More Productivity?

[ad_1] The number of US patents granted has been rising rapidly. However, US productivity has not been rising. Why aren’t more patents leading to more productivity? Aakash Kalyani of the St. Louis Federal Reserve discusses research that suggests an intriguing possibility in “The Innovation Puzzle: Patents and Productivity Growth” (Economic Syn0pses: Federal Reserve Bank of … Read more

Productivity Syndrome and the Investment Prescription

[ad_1] Economic productivity is about growing the size of the pie. I sometimes point out that no matter what your goal–spending increases, tax cuts, greater support for the poor, environmental protection–that goal is easier when the economic pie is growing. When the economic pie isn’t growing, after all, then all priorities have to pit potential … Read more