Has the ideas machine broken down?
The idea that innovation and new technology have stopped driving growth is getting increasing attention. But it is not well founded

BOOM times are back in Silicon Valley. Office parks along Highway 101 are once again adorned with the insignia of hopeful start-ups. Rents are soaring, as is the demand for fancy vacation homes in resort towns like Lake Tahoe, a sign of fortunes being amassed. The Bay Area was the birthplace of the semiconductor industry and the computer and internet companies that have grown up in its wake. Its wizards provided many of the marvels that make the world feel futuristic, from touch-screen phones to the instantaneous searching of great libraries to the power to pilot a drone thousands of miles away. The revival in its business activity since 2010 suggests progress is motoring on.
This article appeared in the Briefing section of the print edition under the headline “Has the ideas machine broken down?”
Briefing
January 12th 2013
From the January 12th 2013 edition
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