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Just to maintain our current overall rate of economic growth, the economy has to double its research efforts every 13 years. At least according to Stanford economics professor Nicholas Bloom and his co-authors in their recent paper, “Are Ideas Getting Harder to Find?” He joined me to discuss the policy implications of his research, and what it means for US growth going forward. We also discuss his work on economic uncertainty, how to measure it and how much it really affects the economy, and why Paul Krugman has attacked his thesis so much.
Nick Bloom is a professor of economics at Stanford University, a Senior Fellow of SIEPR, and co-director of the Productivity, Innovation, and Entrepreneurship program at the National Bureau of Economic Research.
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