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I suspect that supply and demand have a lot to do with it. Capital and innovation is scarcer than labor, especially unskilled or lower skilled labor.
by babblefrog 15y ago
I suspect that supply and demand have a lot to do with it. Capital and innovation is scarcer than labor, especially unskilled or lower skilled labor.
- Hyena 15y agoDiffusion, not innovation, drives economic growth. This is simple to demonstrate by looking at the rate of catch-up growth. If there is a problem with economic growth, it is more likely that there are too few diffusion pathways than too little innovation. Our patent system would tend to point in the direction of diffusion problems, no?
- lukesandberg 15y agoyeah that is definitely true, but the underlying issue is fairness (which is trickier).