Tracking the State of Innovation in the American Economy
Innovation Measurement
In 2007 the United States Department of Commerce commissioned the above report. They sought to answer twenty five leading questions on innovation published in the Federal Register. One year later the appointed Committee responded, We recognise that the American economy is changing in fundamental ways - and that most of this change relates directly to innovation. The centrality of the need to advance innovation measurement cannot be overstated. Unfortunately the committee was excluded from considering the source of knowledge necessary to answer the questions needed for advancement. Unlike academic knowledge, industry's is (a) tacit and (b) proprietary. In the vacuum left by the Committee report it has taken a decade for this commercial knowledge to emerge. 'Innovation in Economics: Missing Pieces' reveals previously secluded commercial knowledge translated into Economics using interdiscplinary perspectives. It advances innovation measurement along the lines sought in 2008 by making missing factors come alive - as summarized 1 to 5 in the above tabs. The Committee expected it would - and it does - radically inform economic planning. Systematically tracking the State of Innovation will advantage any Economy.