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Innovation Amid Stagnation: Focus on Services
The great stagnation thesis highlights that while large companies may show innovation, sectors like education, healthcare, and government services continue to experience stagnation. Significant breakthroughs in healthcare are possible through medical research, yet the education sector shows low productivity and suffers under pressure. Government productivity is challenging to measure, but responses to events like the pandemic reveal a lack of effectiveness. Thus, the areas contributing to stagnation primarily lie outside the realm of technology and big business, centering instead on essential services.