by Tyler Cowen (2011). Short (ca 15,000 words) essay on how, since the 1970s, innovation and productivity in the US – as in all advanced Frist World countries – has dropped and will continue to be low compared to the second part of the 19th and first part of the 20th century, when plenty of wide open space and mineral wealth, massive increases in the level of education and a wave of technological revolution created wealth at an unprecedented scale. With the singular exception of the computer revolution and the internet, these “low-hanging fruits” have all been picked. Furthermore, the three biggest growth areas – more government regulation of all aspects of our lives, medical care and primary and secondary education – have stagnated over the past few decades and have not lead to any sustained increased wealth. Calls for a new wave of innovation, although it’s not clear where this should come from.