Genius effect
Definition
The genius effect refers to a combination of the following phenomena:
- A larger absolute population size leads to a higher probability of the existence of geniuses within that population
- The extent of innovation in certain fields is dependent (linearly or even more strongly) on the absolute number of geniuses rather than their proportion within the population
- Once the innovations happen, their effects are felt by all, leading to increased prosperity for everybody.
The genius effect is an example of a low-probability high-benefit supply-side effect of population, and provides a possible story about how high population growth, by promoting greater innovation, can lead to higher living standards for all.
Related notions
- Market size effect is a demand-side version of population effects