Innovation Pessimism

“The idea that innovation and new technology have stopped driving growth is getting increasing attention. But it is not well founded. Has the Idea Machine broken Down?”

This is a must read article recently featured on the Economist. It is an interesting take on innovation as it is happening today. According to Peter Thiel, a founder of PayPal,  innovation in America is “somewhere between dire straits and dead”.  Is this accurate? The pace of innovation may have slowed, but the problem may lie more in rigid institutions standing in the way of “truly revolutionary changes”.  What does this mean for the future?

See The Economist’s recent post (from the print edition): “Has the idea machine broken down?”