getting inside its black box

Growth Economics

Growth Economics is in a black box. Lift the lid to find conjectures that do not work protected by hocus-pocus that they do. Capital and labor raised to powers that multiply together is not working. Dozens of other conjectured factors don't work either. Economists inhabit this darkness when transparency is available - as it must be - from those who actually create growth; who are not economists. Our innovation professional knowledge cannot be discerned from any campus. It's commercial knowledge that resides within those who conceive of, and bring to economic life, new commodities and services. The above tabs cannot do full justice to what we know but will allow you to sample some of its main features. Eight steps will lead you to four new Laws and five Equations, all of which work. They are based on common ideas about how economic growth originates that are put together using uncommonly fresh analysis whose primary feature is the rigorous definition and enumeration of innovation itself. The outcome is a comprehensive account of how economic growth actually happens. Support from five decades of commercial data puts it beyond reasonable doubt. Despite this, academic economists prefer the black box. You have the option to think differently. It's in the public domain as a hundred page self-teaching manual, a print-on-demand download from the Technology Matters tab. Governments - who are current customers of the black box - should be particularly assiduous; productivity is misrepresented therein, as is the role of R&D. That's two black marks for the black box. Open it with 4 Laws and 5 Equations instead.