Two popular innovation metrics are total factor productivity the difference between output (like GDP) and the inputs (like capital and labor) used to produce it, or the number of unicorns, startups that reach a $1B valuation. While total factor productivity seems rather flat,
the number of unicorns seems to be accelerating.
The US seems to account for about half of them, maybe due to its tolerance for inequality, and light-handed regulation.
Unicorns are concentrating in several US cities, sometimes called "innovation clusters."
More posts about unicorns and innovation.
HT: Elad Blog
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