In 2012, economist Robert Gordon published a controversial paper in which he argued that economic growth was largely over, due in no small part to our failure to maintain the engines of innovation in recent decades. A study from the Stanford Institute for Economic Policy Research supported his general thesis and argued that while we’re spending even more money on creativity and innovation, our returns are flatlining. And this investment is not only in dollars, as the research revealed roughly 20 times as many people work in R&D today as did in 1930.
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