Pethokoukis, Economics, U.S. Economy

Uber having to hire David Plouffe is all that’s wrong with America

Uber hasn’t built a new kind of nuclear power plant or reengineered the measles virus to cure cancer. Instead, it has developed a piece of software that helps connect people seeking automobile transportation with people willing to supply automobile transportation. It’s a potentially dangerous innovation — at least to local taxicab monopolies. read more >

Economics, Pethokoukis, U.S. Economy

A positive note on the US economy and innovation

Northwestern’s Joel Mokyr is one of my absolute favorite economic thinkers about innovation and growth. Here is a bit from his recent Wall Street Journal commentary: “The economy may be facing some headwinds, but the technological tailwind is more like a tornado. Fasten your seat belts.” With amazing tools at their disposable — including “huge searchable databanks, quantum chemistry simulation and highly complex statistical analysis” — today’s scientists are generating and will continue to generate remarkable discoveries in materials and genetics, as well as information technology. read more >