Innovation in the Corporate Sector

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Einstein did his innovations while he was a patent clerk at night, or probably during the day some too. A lot of scientific innovation to day requires capital and funding. The question is how do you channel that wealth in ways that are going to be the most productive? It's not surprising that o gates has not done a lot of innovation in computing lately. And so what kind of changes we think about would let us get to that more innovative wild west frontier?

Patrick Collison, co-founder and CEO of Stripe, talks with EconTalk host Russ Roberts about the pace of innovation. Collison argues that despite enormous increases in the numbers of scientists and researchers, the pace of progress in scientific and technological understanding does not seem to be increasing accordingly. The conversation looks at the challenge of measuring innovation and whether the pace of innovation should be a matter of concern and if so, what might be done about it.