What is the Role of Innovation in A Nation’s Growth and Future Prosperity?

Professor Edmund Phelps, winner of the 2006 Nobel Prize in Economics, and author of Mass Flourishing: How Grassroots Innovation Created Jobs, Challenge and Change, discusses how mass innovation and the creation of new products leads to national prosperity. What do people need to encourage them to think of new ideas? And how do new ideas help spread prosperity? For a video version or transcript of this episode, go to http://goldsteinongelt.com/nobel-prize-winner-interviews/edmund-phelps