Tabarrok argues convincingly that a large part of the current stagnation in innovation is due to the conjunction on three factors: a mindbogglingly inefficient patent system, a broken education system and barriers to the flow of people and ideas.

The book is a mine of example of no-nonsense reforms that can generate huge gains in ideas and income. Simpler, narrower and shorter patents, simpler regulation, better-paid ans more accountable teachers are some of the key points.

The book is short, it is worth reading in its entirety without the need to sum it up any further here.

I have one point of dissent however. Tabarrok dismisses Humanities as having little or no contribution to innovation (at least much smaller than science). In the current circumstances, I disagree with that. More often than not, a innovative solution exist,n but people just don't want to change their habits, or are simply afraid of change. More deeply, the rise of overweight-related illnesses and expenses show how rewarding it would be to better understand how people make everyday detrimental choices, and to nudge them towards better decision-making processes. No pill or gizmo is going to achieve that: there is where the humanities are most needed. ( )