Transcending the threshold limitation: a fifth industrial revolution?

What is it about?

Concern has recently been raised about three global trends. Global productivity growth, research productivity and globalization growth seem to be declining. In this paper, it is argued that the burden of knowledge effect, in the form of declining returns to investments in research and R&D, may underlie these trends. Derived propositions suggest that a focus on attaining economies of scale in the research process itself may hold the key to dramatic productivity improvements.

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