The speed of technological progress is likely to:
A) slow in the future according to Paul Romer.
B) increase because it is a combinatoric process.
C) diminish in the future because it is a combinatoric process.
D) continue rising in the future because evidence shows the number of patents has been steadily increasing relative to the number of researchers employed.

Question

Quizplus · Accepted Answer

Paul Romer's theory of technological progress is based on the idea that innovation is a combinatoric process, meaning that new ideas and inventions are built upon previous ones. This suggests that the speed of technological progress is likely to increase in the future as more and more ideas and inventions combine to create new breakthroughs.

The Speed of Technological Progress Is Likely To