How innovation works [electronic resource] : serendipity, energy and the saving of time

Ridley, Matt2020

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Summary

The products of innovation are all around us, from light bulbs and nuclear energy to antibiotics, artificial intelligence and even wheelie suitcases. In the 1950s, the economist Robert Solow calculated that 87% of economic growth came not from applying more capital or more labour, but from innovation making people more productive. It's probably even higher today - new materials, new machines, and new ideas to cut costs and enable people to spend less time fulfilling more of their needs: that's what growth means. Looking at key developments from harnessing steam power to nuclear fusion, genetic modification and now the impact of social media on polarisation, this book explores significant the breakthroughs in science, technology and economics that we all benefit from today - and considers where they might originate in future.