Tuesday, September 4, 2012

EconLog | Library of Economics and Liberty

EconLog | Library of Economics and Liberty: "My main critique is that Gordon is way too certain of his conclusion. His big argument--not the one about the six headwinds--is as follows:
[T]he central theme of this article is that innovation does not have the same potential to create growth in the future as in the past.

Again, I emphasize that I don't want to say that he's wrong--he could well be right. But I don't think his degree of certainty is justified. By the very nature of innovation, we don't know what it will be."

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