The thesis that innovation has stopped because the major foundations of today's technology were laid in the 70's is utter nonsense. Most breakthrough innovatio

The thesis that innovation has stopped because the major foundations of today's technology were laid in the 70's is utter nonsense. Most breakthrough innovations take 15 to 20 years to go from the initial discovery to widespread adoption. Examples penicillin, ARPANET, GPS, television, unix, and on an on. So it is no surprise that the Internet and GPS took off in the 1990's. If you want to know what is going to drive the 2020's and the 2030's look at what's in the labs now. Of course 99% of it wont amount to much, but the core innovations are there somewhere. The author has a point about the problems inherent in unregulated financial manipulation and monopolies in general. But unless there are huge restrictions on small business development and a suppression of the universities, innovation will continue.