46 Pages Posted: 6 May 2025 Last revised: 18 Jul 2025 Yoshiki AndoSingapore Management UniversityJames E. BessenTechnology & Policy Research Initiative, BU School of LawXiupeng WangNortheastern University (USA) - D’Amore-McKim School of Business; Stanford Digital Economy Lab; Boston University Date Written: May 05, 2025 Abstract R&D investment has grown robustly, yet aggregate productivity growth has stagnated. Is this because “ideas are getting harder to find”? This paper uses micro-data from t...