LSE: Public lectures and events How progress ends: technology, innovation, and the fate of nations
Oct 21, 2025
Dr. Carl Benedikt Frey, an Oxford economist and author, explores the uneven nature of technological progress. He argues that success hinges on geography, culture, and institutions. Professor Michael Storper provides insights on the importance of matching institutional frameworks to innovation stages, while Jane Gingrich highlights the political implications of innovation-related inequality. The trio also discusses the transformative potential of AI, state capacity, and the need for new ideas, offering a rich analysis of how societies can foster or hinder progress.
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Progress Is Fragile Not Guaranteed
- Progress is not inevitable and requires sustained institutional effort and fit with technology.
- Carl Benedikt Frey warns that assuming continuous technological progress overlooks long historical gaps and geographic divergence.
Catch-Up vs Frontier Needs Different Institutions
- Catch-up growth and frontier innovation require different institutional setups and incentives.
- Frey argues centralized systems can excel at scaling mature technologies but fail at decentralized exploration needed for frontier breakthroughs.
Soviet Centralization Versus Google’s Many Bets
- The Soviet Union transplanted mass-production techniques but lacked decentralized exploration for new tech.
- Frey contrasts Soviet centralized funding options with Silicon Valley's many independent bets, like Google's early rejections.
