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A possible declining trend for worldwide innovation
Authors:Jonathan  
Institution:
Received 10 September 2004; 
Abstract:A comparison is made between a model of technology in which the level of technology advances exponentially without limit and a model with an economic limit. The model with an economic limit best fits data obtained from lists of events in the history of science and technology as well as the patent history in the United States. The rate of innovation peaked in the year 1873 and is now rapidly declining. We are at an estimated 85% of the economic limit of technology, and it is projected that we will reach 90% in 2018 and 95% in 2038.
Keywords:Technology limit  Innovation rate  Invention rate
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