Introduction MELF Equation Macro Metrics Micro Metrics Beyond GDP How To Access Acknowledgements About Us
Commercial Knowledge Leads to New Economics
Business Innovation Economics
It’s apparent to most thinkers that innovation should connect with economic growth. But Economics provides no rigorous numerical linkage between any portion of GDP and preceding business R&D - leaving a 'non-explanation' untouched since 1988. Economics does, however, calculate a stock of ideas from part of which new technology and products are developed. But simply placing this capital at the mouth of the Innovation Funnel is insufficient to determine growth. Only successful passage through the funnel achieves this. Yet Economics is silent on that process. Not least because, Pertinent business information is systemically hard to come by. It’s hidden away from campuses, in commercial reports; within factories, corporate offices and technical centers. And most of it relates to successful funnel passage. Tacit knowledge and access allow Innovation Professionals to use these resources to serve various commercial purposes, into which the incorporation of Economics is a natural extension. The outcome fills two well-known, but almost forgotten, knowledge gaps in Economics. These are the long sought, but never found, numerical link between Business Innovation and GDP, and the quality change problem,