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The Economy’s Hidden Problem: We’re Out of Big Ideas

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21–30 of 65 posts

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#21

Big ideas take a long time to play out. Take electricity, for example. Maxwell published his equations in 1861. Yet useful new applications of electricity were still coming out in the 1960s (microwave ovens). Or take transistors. They were invented in 1948. What we call "electronics" didn't really start happening until about the 1970s. Moore's Law didn't really slow down until maybe 2005. The problem is that we don't…

I agree. I work in AI and I feel like it gets a lot of the brunt of the "game changing" tech hype, but to be honest if someone solved fusion that would be an absolute societal game changer.

on it

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#22

Big ideas take a long time to play out. Take electricity, for example. Maxwell published his equations in 1861. Yet useful new applications of electricity were still coming out in the 1960s (microwave ovens). Or take transistors. They were invented in 1948. What we call "electronics" didn't really start happening until about the 1970s. Moore's Law didn't really slow down until maybe 2005. The problem is that we don't…

I agree. I work in AI and I feel like it gets a lot of the brunt of the "game changing" tech hype, but to be honest if someone solved fusion that would be an absolute societal game changer.

[deleted]

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#23

Big ideas take a long time to play out. Take electricity, for example. Maxwell published his equations in 1861. Yet useful new applications of electricity were still coming out in the 1960s (microwave ovens). Or take transistors. They were invented in 1948. What we call "electronics" didn't really start happening until about the 1970s. Moore's Law didn't really slow down until maybe 2005. The problem is that we don't…

I agree. I work in AI and I feel like it gets a lot of the brunt of the "game changing" tech hype, but to be honest if someone solved fusion that would be an absolute societal game changer.

I keep wondering when some dictatorship will sidestep rules and use genetic tech (crispr et al) to breed smarter humans. Maybe such humans could then figure out FTL, fusion, teleportation, and other Star Trek stuff.

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#25
well covered in The Rise and Fall of American Growth by Robert Gordon - http://press.princeton.edu/titles/10544.html

Paul Krugman reviews it here - http://www.nytimes.com/2016/01/31/books/review/the-powers-th...

bottom line: several key technological leaps can't really ever happen again - electrics, indoor plumbing, motor vehicles, air travel, telecom - these made huge fundamental changes in living standards - no comparably huge changes remain

i'd say: fusion power might be one - automated cars, considering our dependence on them in current suburbanism - cheap orbital access - brain augmentation - life extension - a foolproof recipe for homemade pho

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#26

I don't think it is the ideas we lack, it is the focus on money. Ideas that won't make tonnes of money don't make it into reality. It's not, "hey, is that idea going to help people/planet/____"? It's, "hey, is that idea going to make me rich?"

First time I've seen someone discuss the triple bottom line in the wild.

http://www.investopedia.com/terms/t/triple-bottom-line.asp

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#27

I don't think it is the ideas we lack, it is the focus on money. Ideas that won't make tonnes of money don't make it into reality. It's not, "hey, is that idea going to help people/planet/____"? It's, "hey, is that idea going to make me rich?"

I think this is because as capitalism solves more and more problems, a greater proportion of the remaining problems are caused by capitalism. It's difficult for the system to solve these problems without reshaping its boundaries.

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#28
> There are more scientists and engineers in the U.S. than ever before. None of this has translated into meaningful advances in Americans’ standard of living.

It seems like this article is attempting to state a problem that doesn't exist to create a stir. No meaningful advances recently? I cannot take this statement seriously when I now have the entire internet easily accessible in my pocket at all times compared to 10 years ago. I can talk face to face with my grandmother miles away from the comfort of my room. And virtual reality seems to be on its way to becoming a game changer for many industries if (or when) it catches on.

> Electric cars, for example, cost more and perform worse than equivalent gasoline cars; the batteries subtract space and add weight, and mileage is limited especially in extreme temperatures.

This statement has for too many variables to me to accept as true. There are many different ways to measure performance of a car. If the writer is talking speed performance, the Model S blows every competitor out of the water. Mileage is a different story, but maintenance from what I've seen appears to be cheaper (no oil changes, belt/chain replacements, etc). And the batteries and motor take up less space when compared to the engine and drivetrain of comparable vehicles. Maybe now electric isn't the most economical choice, but it seems like that's slowly changing.

His point about slowing growth in tech certainly may be true, but some of the statements he makes towards the affects of this lack of growth seem backwards to me.

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#29

I don't think it is the ideas we lack, it is the focus on money. Ideas that won't make tonnes of money don't make it into reality. It's not, "hey, is that idea going to help people/planet/____"? It's, "hey, is that idea going to make me rich?"

And, even worse, the biggest money would rather kill a business that is merely profitable or slow growing.

Re: The Economy’s Hidden Problem: We’re Out of Big Ideas

#30

Actually I have plenty but no economic means to implement them. Bet that's true for more than a few people.

This is probably true for a lot of people. The biggest problem with the concentration of wealth is that it limits innovation. A small group of people have all the resources they want to to play around with. They are now the bottlenecks to innovation.

We currently have 10s of millions of highly educated scientists, engineers, programmers, technicians in the world. We have tools to collaborate and communicate. Global GDP is like 100 trillion.

With that magnitude of resources available, we should be able to do big things. But, those with the capital have pretty much everything they need, so there's little motivation.

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