The Unexpected Consequences of More Efficient Lighting

Like 19th century English coal, more efficient and cheap LED lights can mean people and businesses use it more because of the lower opportunity cost.

Production Possibility Frontiers: Entering (and Exiting) a Discovery Void

After technological innovation multiplies, might the pace of discovery slow down? Think of the history of antibiotics. Starting with the Sulfa drugs that were first discovered during the 1930s, the new antibiotic timeline is congested until 1962. Yes, recently, new antibiotics classes were introduced.…