tag:blogger.com,1999:blog-5880610.post8534605139614186516..comments2024-01-13T18:57:18.243-05:00Comments on Information Processing: Low hanging fruit and technological innovationSteve Hsuhttp://www.blogger.com/profile/02428333897272913660noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-5880610.post-62088846661292667502013-01-18T03:40:09.545-05:002013-01-18T03:40:09.545-05:00One point, which Prof Hsu has often picked up on, ...One point, which Prof Hsu has often picked up on, is that a lot of bright boys, I'd argue too many, go into finance and devote their brainpower to creaming off the wealth that others create. Quants ?<br /><br /><br />You can't say the rate of financial innovation is slowing down in the West - in fact there might be an inverse relationship between that and real innovation. <br /><br /><brLabanTallnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-87466661243330864492013-01-18T03:32:34.924-05:002013-01-18T03:32:34.924-05:00Surely you could argue that rising energy costs an...Surely you could argue that rising energy costs and offshoring of manufacturing (Far East isn't showing 1.33% growth) account for this?LabanTallnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-73601428381230692822013-01-13T19:45:05.794-05:002013-01-13T19:45:05.794-05:00We call that, in my business, a force multiplier.We call that, in my business, a force multiplier.David Coughlinhttp://twitter.com/dscoughlinnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-13373658912659897172013-01-12T22:32:37.943-05:002013-01-12T22:32:37.943-05:00"growth", "innovation", "..."growth", "innovation", "economy" are all abstractions which you have used outside their proper scope.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-22089561231980898772013-01-12T22:30:47.237-05:002013-01-12T22:30:47.237-05:00Good on ya RKU1. It is not appreciated by economis...Good on ya RKU1. It is not appreciated by economists or businessmen or any member of the elite I know of that never ending growth is an abstraction which presupposes that men have infinite wants or needs. The concrete reality is that men's needs are finite and many of them are less satisfied today than at any other time. Unless or until man overcomes himself (makes himself smarter and longer gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-23595550357386353522013-01-12T22:21:10.599-05:002013-01-12T22:21:10.599-05:00"...as we may be altering ourselves and our c..."...as we may be altering ourselves and our civilization along the way..."<br /><br />Steve appears to be making a cognitive breakthrough.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-27015218395012265822013-01-12T22:20:19.892-05:002013-01-12T22:20:19.892-05:00"But in the 1970s ..."
So the computer..."But in the 1970s ..."<br /><br /> So the computer revolution has not increased real productivity per worker, <br />but just per some workers? Plus ca change.<br /><br /> Utiles. Ha! People living in the developed world today are in general, collectively, the most unhappy people ever.gide07noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-18779977405733236372013-01-12T18:40:17.272-05:002013-01-12T18:40:17.272-05:00Maybe the measure of productivity after 1970 is no...Maybe the measure of productivity after 1970 is not inclusive of some new factors?stephen zhangnoreply@blogger.comtag:blogger.com,1999:blog-5880610.post-81685239877822301382013-01-12T17:56:15.489-05:002013-01-12T17:56:15.489-05:00The difference is China's government decided t...The difference is China's government decided to allow the Chinese economy to begin to catch up to the developed economies. That then resulted in a phenomenal growth rate as they caught up with the last couple of centuries of innovation. By contrast the US is usually thought of as the most technologically advanced country in terms of productivity and so a slow down in growth in the US is a David Sternhttp://www.facebook.com/people/David-Stern/100000752989078noreply@blogger.comtag:blogger.com,1999:blog-5880610.post-21419402810190927512013-01-12T14:11:33.626-05:002013-01-12T14:11:33.626-05:00Hmmm... So America's per capita growth rate i...Hmmm... So America's per capita growth rate in GDP dropped sharply after about 1970, due to worldwide changes in technological innovation. It's purely coincidental that this dramatic inflection occurred around the same time that America was experiencing such equally dramatic changes in its economic, social, ideological, and economic systems.<br /><br />Another good example is China. InRon Unznoreply@blogger.com