There's a lot of pessimism in the world that i find dumb peculiar. Are you pessimistic about where we're headed and where we are right now on the whole? Not. I'm still a rational optimist. But i do just worry a little bit more than i did ten years ago about the fact that the main engine of the world innovation system is now in china. What happened to the incredible open a discussion of ideas in the early roman empire? Am a, you know, when you could speculate about evolution and the atomic theory of matter and all suce of things,. then along come the christians and say, no, we're burning all thoses.
What's the difference between invention and innovation? Could it be that innovation--the process of making a breakthrough invention available, affordable, and reliable--is actually the hard part? In this week's EconTalk episode, author Matt Ridley talks about his book How Innovation Works with EconTalk host Russ Roberts. Ridley argues that we give too much credit to inventors and not enough to innovators--those who refine and improve an invention to make it valuable to users. Along the way, he emphasizes the power of trial and error and the importance of permissionless innovation.