Innovation, Not Manna From Heaven

Tuesday, September 15, 2020
Image credit: 
istock

The United States is an outlier in the distribution of prosperity. As figure 1 shows, there is a small group of countries with per capita incomes above $40,000 that stand out from all the others—and the United States, with a per capita income of nearly $66,000, stands out even within this small group. How can it be that the United States has a per capita income roughly 50 percent higher than that of Britain, its former colonizer? 


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Innovation, Not Manna from ... by Hoover Institution