Invest Like The Best
Episode 225 Frontiers for Productivity
Invest Like The Best

Episode 225: Frontiers for Productivity

Invest Like The Best

Episode 225

Frontiers for Productivity

Eli Dourado is an economist and senior research fellow at the Center for Growth and Opportunity at Utah State University. We cover the ongoing stagnation in labor productivity, the system constraints, and some of the innovative technologies that could reverse this trend.

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[00:03:28] - [First question] - Why he’s interested in the great stagnation

[00:05:41] - What is a fair analog for total factor productivity technology?

[00:07:29] - Leading theories for the stagnation in TFP

[00:09:05] - Analysis of why growth is good, and stagnation is bad

[00:10:19] - Rate limiters that are a key part of calculating stagnation

[00:11:43] - Signs that we may be returning to a higher degree of TFP returning

[00:12:24] - Exciting developments like mRNA in biotech that may lead to an explosion of innovation

[00:16:16] - Functions of a protein and their role in advances in biotech

[00:17:55] - What CRISPR is and what it unlocks for the future of humanity

[00:19:31] - The pace of progression when rolling out clinical trials of cellular engineering

[00:21:36] - How biotech may play a role in TFP as a proxy for progress and growth

[00:22:51] - Interesting observations about potential innovation in the energy sector

[00:24:10] - What currently requires energy that could be optimized if they had a lower energy cost

[00:25:34] - Sources that could provide cheaper and more efficient energy

[00:27:13] - Sage Geosystems and the future of the geothermal space

[00:27:43] - The importance of batteries in the modern era

[00:29:02] - Why energy should be a more pivotal focus in our future

[00:29:41] - What’s interesting in the world of transportation writ large

[00:31:02] - Boom’s story, supersonic air travel, and why Concorde shut down

[00:34:55] - Mach 5 and March 12 supersonic air travel

[00:36:19] - Second-order effects of reducing the time cost of air travel

[00:38:19] - Liftoff, SpaceX, and the future of the space sector

[00:43:07] - Other key players in space people could study; Blue Origin and Relativity Space

[00:45:15] - What will we do in space once we can travel there cheaply

[00:46:39] - What he’s most curious about in IT that could drive productive societal growth

[00:50:07] - Ethereum and how a decentralized blockchain could change the world 

[00:51:19] - The kindest thing anyone has ever done for him

Frontiers for Productivity

Introduction

Patrick
This is a conversation about the most exciting technology trends in the world. My guest today is Eli Dourado, an economist and senior research fellow at the Center for Growth and Opportunity at Utah State University. We discuss the strange economic stagnation of the past few decades and the innovative technologies that could reverse this trend. Eli's wealth of knowledge on biotech innovation, alternative energy, and the space opportunity are sure to leave you craving more. I hope you enjoy this great conversation with Eli Dourado.

Eli's Background

So, Eli, I think the right framing for our discussion, given the wide variety of your background and your work, is what we'll call the great stagnation. I'd love you to describe this problem, maybe introduce concepts like GDP or total factor productivity, ways of measuring what we'll call a stagnation. And then most of our conversation will be, how do we get out of it, assuming that we are indeed in it? But I think that's a great opening frame. Why are you interested in this problem? And what does it mean?

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