Ideology and Tyler Cowen’s stagnation thesis

posted by
February 6, 2011
by Arnold Kling  
Posted in Commentary

"One of the main points that free-market economists make in defense of capitalism is that it promotes innovation. Again, Cowen would not deny this. But the claim that innovation has run out of low-hanging fruit might be interpreted to suggest that we should just give up on it for now. Instead, since the advantage of capitalism is no longer available, we might as well do more central planning and redistribution. That may not be Cowen's policy conclusion, but I think it is what statists will take away from his e-book." (02/04/11)  


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