costs of extracting ideas have increased sharply over time Bloom et al 2017

This is due to several factors including increasing competition, rising research and development expenses, and higher costs of intellectual property protection. Additionally, as technology advances, the complexity and specialization of research and development processes have also increased, leading to higher costs. These factors have made it more difficult and expensive for firms to come up with new and innovative ideas, which can limit their ability to remain competitive in the marketplace.