The Economist on Innovation and Job Growth

A new Economist article on “Silver lining:How the digital revolution can help some of the workers it displaces” cites SME president Dr. Michael Mandel on innovation and jobs:

That is a very good thing in the eyes of those who see the rich world’s problems as a matter of too little innovation rather than too much. Michael Mandel, a technology expert at the Progressive Policy Institute, reckons that innovation is generally followed by growth in employment. That is most obviously true in ICT, but also in sectors like energy, where fracking technology has generated an oil boom and a jobs bonanza in states such as North Dakota and Texas. Mr Mandel invites sceptics to imagine a future in which doctors can 3D-print livers (and other organs) on demand—a technology that looks increasingly realistic. In addition to the significant health benefits that would result, organ printing would create new jobs, from workers to monitor the printers to nurses for the patients receiving transplants.

In addition, the same article cites an article that Dr. Mandel did for the Progressive Policy Institute:

E-entrepreneurship received a boost in 2008 when Apple launched its app store, through which third-party software designers could market their own iPhone applications. The “app economy” has since grown by leaps and bounds. According to an estimate by the Progressive Policy Institute, a think-tank, in 2013 it provided work for more than 750,000 people in America alone.