Innovation needs new institutions

Science and technology are moving quickly. The US has more scientists and engineers than ever before , according to the National Center for Science and Engineering Statistics. They’re publishing enormous numbers of patents based on their ideas. And yet innovation still isn’t happening fast enough to solve the world’s biggest problems, like climate change, pollution, and disease. Electric car batteries aren’t yet powerful enough , and dairy-free cheese still tastes like sawdust mixed with pasta water. Runoff from farms using synthetic fertilizers threatens our ecosystems . Companies have spent more than $40 billion trying to develop drugs for Alzheimer’s disease , with little to show for it. Technology isn’t the only way to address these issues. We need both high-capacity batteries and more responsive public transportation to reduce emissions in cities. But new technology must still be part of the equation. During the 20th century, scientists at big, well-funded corporations