Innovation is a random lottery
Never thought of innovation this way. Interesting framing.
Innovation. 2 notes.
Notes2
Adam Butler @GestaltU · August 6, 2026 ↗Innovation is a random lottery. The funding model is mostly irrelevant, though generating many diverse, step-function inventions at scale typically requires absurdly patient capital, with high uncertainty about the ability to privatize gains. You can stack the odds by a)…
The prerequisites for scientific progress
Interesting thoughts by Jesús Fernández-Villaverde: Mokyr has long argued that Europe’s Republic of Letters encouraged broad scientific and technological innovation by providing a setting where new ideas could be evaluated and disseminated. For him, Europe occupied the ideal midpoint between political fragmentation and…
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