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Innovation Drives Economic Growth Everywhere.
Conventional wisdom, economic growth 101, identifies capital and labor as the primary drivers of economic growth. But this wisdom isn't as smart as it seems. Strict adherence to capital and labor squeezes out the real driver, which is innovation. When innovation is rigorously included it dominates all the equations. It's unwise not to recognize this. The origins of growth are at the heart of human welfare across the globe. Although innovation professionals know how to do the critical measurement, it appears economists do not. To rectify this requires more than knowledge transfer. It requires translation from one professional language to another, an achievement that is very recent,