How Progress Ends (Carl Benedikt Frey, Max Flötotto) | DLD26

Описание: Big breakthroughs don’t automatically turn into broad prosperity, as this fascinating DLD Munich conversation between Carl Benedikt Frey (Oxford) and Max Flötotto (McKinsey) makes clear.

If you’re wondering how it’s possible that today’s “wow” inventions come with stubbornly weak productivity: the missing piece is often incentives and institutions, Carl Frey, one of today’s leading economists, explains.

Innovation has an exploration phase (many risky bets) and an execution phase (scaling what works), he says, and societies can get good at one while failing at the other.

The Soviet Union, for example, was excellent at scaling industries that work – but it failed at innovation, Frey argues.

Europe, he says, currently lacks both in local experimentation that fuels exploration and market integration that enables scaling, while regulation, talent attraction, and fragmented rules all add friction.

Watch this video for an expert take on why innovation sometimes stalls, and how AI could help Europe to return to real growth.

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