
Innovation: how important is it? And how do we get more of it?
An excerpt from The Next Convergence: The Future of Economic Growth in a Multispeed World
Despite apparent strong productivity growth in recent years, Americans have been hit by a deadly combination of stagnant real wages and a lack of good jobs for mid-income workers.
As Congress debates the best way of closing our budget gap and narrowing our deficit, we are only now beginning a real discussion of what should be the overarching goal of economic policy—the growth and renewal of the US economy.
In the heat of battle, it’s hard to see where things are heading. Something similar may be happening with the US economy.
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