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SAN FRANCISCO Joshua Garnett 49ers Jersey , June 9 (Xinhua) -- New research at Stanford University indicates that big ideas are getting harder and harder to find, and innovations have become increasingly massive and costly endeavors.


According to Nicholas Bloom, a senior fellow at the Stanford Institute for Economic Policy Research (SIEPR) and co-author of a paper, so many game-changing inventions have appeared since World War II that it's become increasingly difficult to come up with the next big idea.


And as a result, tremendous continual increases in research and development (R&D) will be needed to sustain even today's low rate of economic growth.


"The thought now of somebody inventing something as revolutionary as the locomotive on their own is inconceivable," Bloom was quoted as saying in a recent news release from SIEPR.


"It's certainly true if you go back one- or two hundred years Kentavius Street 49ers Jersey , like when Edison invented the light bulb. It's a massive piece of technology and one guy basically invented it. But while we think of Steve Jobs and the iPhone, it was a team of dozens of people who created the iPhone."


Bloom worked with SIEPR senior fellow Chad Jones, Stanford doctoral candidate Michael Webb, and Massachusetts Institute of Technology (MIT) professor John Van Reenen as co-authors to examine research productivity at an aggregate national level as well as within three swaths of industry: technology, medical research and agriculture. They analyzed research efforts at publicly traded firms.


Their paper followed a common concept that economic growth comes from people creating ideas. In other words, when there are more researchers producing more ideas Tarvarius Moore 49ers Jersey , there is more economic growth.


However, the team found a not-so-rosy imbalance. While research efforts are rising substantially, research productivity, or the ideas being produced per researcher, is declining sharply.


Specifically, the number of Americans engaged in R&D has jumped by more than twentyfold since 1930 while their collective productivity has dropped by a factor of 41.


The researchers found clear evidence of how exponential investments in R&D have masked the decline