Introduction MELF Equation Macro Metrics Micro Metrics Beyond GDP How To Access Acknowledgements About Us
Penetrates to the Origins of Economic Growth in Profoundly New Ways
Business Innovation Economics
It’s apparent to most people that business innovation drives economic growth. But despite notable attempts, Economics still provides no rigorous numerical linkage between any portion of GDP and preceding business R&D. Economics does, however, calculate the stock of ideas from 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, perhaps for the following reason, Pertinent business information is systemically hard to come by. It’s hidden from campus reach, in commercial reports; within factories, corporate offices and technical centers. And most of the latter directly relates to the funnel. Innovation professionals simply haven't known the need for it within Economics. Once realized, it becomes a natural extension to use these information sources to fill the gap. Resulting new methodology not only informs National Accounting but also National Systems of Innovation, which become comparable and improvable. The consequences for economic growth within any economy are profound,