The United States' research funding strategy needs a 21st century update. : The Indicator from Planet Money Since World War II, the United States has prided itself on being a global leader in technological innovation. But shepherding those innovations from the lab to the masses has proven to be a sticking point.

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Revitalizing American innovation

Revitalizing American innovation

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Oli Scarff/Getty Images
Robotics student Gildo Andreoni interacts with a Dexmart robotic hand built at the University of Bologna in the Robotville exhibition at the Science Museum on November 29, 2011.
Oli Scarff/Getty Images

The United States has been an undisputed technological superpower since the end of World War II, largely thanks to the trillions of dollars the federal government invests in research. Since the 1940s, the government's strategy has been consistent: Give money to scientists and researchers, but let private companies bear the risk of deciding which "eurekas" are winners and which are duds.

Today, we're joined by Derek Thompson of The Atlantic to discuss his new piece, Why the Age of American Progress Ended. Derek argues America's status as the "laboratory of the world" is increasingly fragile, and we discuss how the government could change its relationship with the innovation economy to promote progress.

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For sponsor-free episodes of The Indicator from Planet Money, subscribe to Planet Money+ via Apple Podcasts or at plus.npr.org.