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IP, Innovation, Policy, Productivity and Margins

Robert Gordon in the “Rise and Fall of American Growth” concluded the best innovation is behind us.  Erik Brynjolfsson’s in “The Second Machine Age”, reached the opposite conclusion.  Robert Solow commented decades ago that technology could be seen everywhere except in the productivity statistics.  Finally, Alexander Field in “A Great Leap Forward” described how the Great Depression obfuscated the beginning of a golden age for productivity.  While second revisions to GDP rarely generate much interest, the sharp upward revision to intellectual property product investment was the catalyst for this note.

Barry C. Knapp

Managing Partner

Ironsides Macroeconomics LLC

908-821-7584

https://www.linkedin.com/in/barry-c-knapp/

@barryknapp

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