Was the last 10 years really as sucky as we think it was or that we were told it was?
Still, most economic models suggest that the fundamental source of growth is new ideas, which enable us to produce more from a given set of resources. To the extent that the rest of the world becomes wealthier, there’s more innovation, as my colleague and co-blogger Alex Tabarrok, professor of economics at George Mason University, argued recently. China, for instance, is moving toward the research frontier in areas such as solar power, scientific instruments, engineering and nanoscience, all of which can benefit the United States. Unlike the situation of just a few decades ago, a genius born in Mumbai now stands a good chance of becoming a notable scientist, whether at home or abroad.
We tend to focus on big events like wars or big atrocious events like 9-11 but linked article argues that globally-speaking the Oh-Nos weren’t too shabby.
We blog, you decide.