Venture Capital in a Time of Turmoil

October 2024, Paper: "One area of consensus among academic economists and policymakers is the need for greater innovation. This concern is rooted in worries about the lagging rate of productivity growth in many Western nations. In the U.S., for instance, the productivity growth rate has reverted in last decade to the anemic levels seen from the late 1970s to the mid-1990s after a short surge in the late 1990s and early 2000s. The picture in Europe is also discouraging when total factor productivity (the most complete measure) is examined. This pat tern is worrisome given the strong connections between innovation, productivity, and economic prosperity."