Final answer:
The speed of innovation over the past hundred years has been dramatic, with steady growth since World War II, advancements in various fields, and significant increases in the number of patents issued annually.
Step-by-step explanation:
The speed of innovation over the past hundred years can be best described as having accelerated dramatically. This observation is backed by the consistent rise in the production and consumption rates over time, indicating a trend of continued growth. Post World War II, the rate has risen steadily, reflecting the increase in the amount of advanced technologies available and the greater number of well-educated workers who are capable of using these technologies to innovate. Furthermore, the current U.S. economy is supported by workers with access to better education and improved physical capital compared to several decades ago. These advantages have led to breakthroughs in various fields, such as genetics, particle physics, and digital technology, evident from the fact that the U.S. Patent and Trademark Office has issued more than 150,000 patents annually in recent years. This growth in technology highlights that innovation is not stagnant but far more dynamic and rapid in development, furthering the technological advancement of society as a whole.