Why do we live in unusually innovative times?

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• 00:01

  NPR. Greg Grzelski, author of the Planet Money newsletter.

• 00:15

  Ready to pop some champagne?

• 00:17

  Yeah.

• 00:18

  Why are we popping champagne so early in the week again?

• 00:21

  It is the economics Nobel.

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  And it's the one time of the year where I'm allowed to talk about Francis Bacon and the scientific method and the enlightenment and how that all led to the incredible discoveries and gadgets we have today.

• 00:32

  I'm so happy for you, Darien.

• 00:34

  Yeah.

• 00:35

  So the award, this was a huge win for economic historians.

• 00:38

  Among others, Joel Mokir from Northwestern University.

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  For economics to work without economic history is like an evolutionary biologist without paleontology.

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  And if you don't have paleontology,

• 00:53

  you just miss 99.5% of all the species that ever walked to this earth.

• 01:01

  This is The Indicator from Planet Money.

• 01:03

  I'm Greg Rizalski.

• 01:04

  In our darring words, today on the show,

• 01:06

  we're going to answer the question of why technology keeps getting better and better.

• 01:11

  Along with Joel Mokia,

• 01:13

  Philippe Allion and Peter Howard got the economic Nobel this year for their work on understanding growth and innovation.

• 01:20

  So today, we're going to focus on a part of that,

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