Monday, December 13, 2010

The story of the twentieth century

Books of Account
The Rational Optimist
Matt Ridley

Increasing returns from innovation exchange

What makes possible the phenomenon of a perpetual innovation machine driving the modern economy? The innovation machine owes its existence not mainly to science (which is its beneficiary more than its benefactor); nor to money (which is not always a limiting factor); nor to patents (which often get in the way); nor to government (which is bad at innovation), argues Matt Ridley in The Rational Optimist: How prosperity evolves.


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