# Prof. William Baumol's ideas on what increases wealth are highlighted

1 Faculty News April 8, 2012 ![Forbes logo](/sites/default/files/styles/246w/public/assets/images/con_030508.jpg?itok=SId6k3bx)>

Excerpt from [Forbes](http://www.forbes.com/sites/timworstall/2012/04/08/googles-eric-schmidt/) -- "We’ve also had more recent economists such as [William Baumol](http://www.stern.nyu.edu/faculty/bio/william-baumol) showing us that it just isn’t the invention of new things which increases wealth, it’s the use of those new things which does."

[Read more](http://www.forbes.com/sites/timworstall/2012/04/08/googles-eric-schmidt/)