Why has productivity growth slowed down in the past five decades, and how big of a problem is this? How important is public support for R&D to solving this problem? And how should this R&D be dispersed by policymakers? My guest today, John Van Reenen, answers these questions and more while discussing his proposal for the US to create what he calls a “Grand Innovation Challenge Fund.”

John is the Gordon Y Billard Professor in Management at the MIT Sloan School of Management and Economics and a Professor of Applied Economics at MIT’s Department of Economics. He is the author of the recent Hamilton Project policy proposal: “Innovation Policies to Boost Productivity.”

Learn more: Toby Ord: Existential risk and the future of humanity | Nicole Gelinas: Can cities weather the pandemic? | Mike Masnick: Exploring the future of work through science fiction

The post John Van Reenen: Why America needs a ‘Grand Innovation Challenge Fund’ appeared first on American Enterprise Institute – AEI.

Subscribe to Political Economy with James Pethokoukis in Apple Podcasts (and leave a 5-star review, please!), or by RSS feed. For all our podcasts in one place, subscribe to the Ricochet Audio Network Superfeed in Apple Podcasts or by RSS feed.