Thursday, September 10, 2020

Innovation is a Delusion — Russell Whitehouse

A short review of Lee Vinsel and Andrew Russell’s The Innovation Delusion: How Our Obsession with the New Has Disrupted the Work That Matters Most.

Mes a case that US society and its elite are so absorbed in the future, past and present are being ignored — at the peril of the society, e.g., failing to repair or replace depreciating capital. Some of this pertains to infrastructure that is the government's responsibility, but much of it affects industry, too.

The argument is that the US too heavily focused on tech innovation. Financial "innovation" can also be added.

International Policy Digest
Innovation is a Delusion
Russell Whitehouse


Matt Franko said...

Current revenues for maintenance being diverted to make up pension fund shortfalls due to ZIRP....

Andrew Anderson said...

Currently, ZIRP is produced via welfare for the banks and asset owners.

Otherwise, ethically lowered interest rates should be a blessing.