How non-economist Economics successfully explains GDP

The Idea of Ideas

Non-economist Economics succeeds by enumerating what everyone knows; ideas - when developed - improve our lives and make us richer. i  → R&D  → GDP Despite decades of effort - and the award of Economics Prizes for progress - economist Economics leaves gaps and questions in and around each arrow of the above sequence. To fill these gaps and answer these questions reigning paradigms within economic discourse need new imagination. Among these are the Cournot determination of price, the Hedonic method of characterizing quality change and the Cobb-Douglas Production Function. Decades of trial and effort on these must include those of Solow, Romer and now Aghion & Howitt.  Non-economist Economics provides what these efforts have not. Its Principia do this by changing the emphasis in economic growth accounting from Capital and Labor to a novel and original mechanism of ideas that operate in markets and convert i to GDP. National Accounting erroneously adds R&D to GDP when its actual role is origination, changes that.