The Steam Age and the Entertainment Industry

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I'm not a technologist, but i would think that most industries could have got along in 19 try. Could a could have gotten along pretty well without steama. We're we shouldn't be forgetting the so called creative industries. Do they need steam in order to increase a box office receipts? Withwith with their new developmentsa, no, i mean not. Their advances were not based on steam. Sa, cotton was took the place of a wool t was quite important. A, disease rates fell as ta result of that. And a, again, what's that? Ats that have to do with steam and the steam age?

Edmund Phelps of Columbia University, Nobel Laureate in economics, and author of Mass Flourishing talks with EconTalk host Russ Roberts about the ideas in the book. Phelps argues that human flourishing requires challenges, struggles, and success and goes beyond material prosperity. He argues that in recent decades, policy has discouraged innovation and mass flourishing resulting in a slow-down in growth rates. Phelps emphasizes the non-material benefits of economic growth and the importance of small innovations over big inventions as key to that growth.