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He spoke at the forum about dwindling innovation in the U.S. economy.
He spoke at the forum about dwindling innovation in the United States economy.
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The argument that these factors have cut potential growth rates echoes that put forward by the US economist Alvin Hansen, who predicted in the 1930s that the US was experiencing a "secular stagnation" as a consequence of dwindling technological innovation and a drop off in the rate of population growth.
Platform models are maturing, innovation is dwindling and certain players are worrying about their own eventual platform demise.
Simultaneously, in the face of increasing material demands combined with dwindling natural resources, the innovation capacity of the world will focus on the question of how energy and material resources can be utilized in a far more efficient way.
If you do not buy a new tablet every several years, these profits will dwindle and cause innovation to slow.
My scientist friends always tell me not to despair too completely over war and disease and climate change and dwindling water supplies, because human innovation has saved us so far and it likely always will, in some capacity.
Demand for innovation has arisen from dwindling supply and increasing demand, flooding, rising costs of infrastructure, energy and chemicals, the sustainability movement and more.
However, today, federal budget priorities for research are dwindling and the effects of sequestration are creating an "innovation deficit" in our economy.
However, society may find itself sorely tested if, as seems possible, growth and innovation deliver handsome gains to the skilled, while the rest cling to dwindling employment opportunities at stagnant wages.
Either it will discourage its young from dancing, film-making and creative writing and galvanise it to risk-taking innovation, or it will slither into becoming a gigantic Bournemouth, living off the dwindling fat of its past.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com