America's peak years of indigenous innovation ran from the 1820s to the 1960s. There were a few financial panics and two depressions, to be sure. But in this period, a frenzy of creative activity, economic competition and rapid growth in national income provided widening economic inclusion, rising wages for all, and engaging careers for most.
Edmund Phelps0
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Edmund Phelps:
My view is that innovation has declined in the everyday processes that businesses tinker with increEdmund Phelps:
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Democrats and Republicans have been very keen to make home ownership almost a national purpose.