Here are some sombering facts:

Americans engaged in R&D has jumped by more than twentyfold since 1930 while their collective productivity has dropped by a factor of 41.

A study found a fraction of firms where research productivity — as measured by growth in sales, market capitalization, employment and revenue-per-worker productivity — grew decade-over-decade since 1980. But overall, more than 85 percent of the firms showed steady, rapid declines in productivity while their spending in R&D rose.

So many game-changing inventions have appeared since World War II that it’s become increasingly difficult to come up with the next big idea.

Here is the link to the Stanford article: