Uneven US innovation could increase inequality – research
St Louis Fed economist documents rising patent concentration by area
Innovation is unevenly distributed across the US, potentially worsening income inequality, according to research by the Federal Reserve Bank of St Louis.
The paper, authored by economist Aakash Kalyani, was published on May 6. “Innovation is a key driver of economic growth and development, but it is unevenly distributed across the United States,” he says. “The top 10 urban areas in the US account for approximately 48% of all patents filed in the country between 1990 and 2015.”
San Jose and San
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