How non-economist Economics succeeds
From Ideas to GDP
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's
Economics leaves gaps and questions in and around each arrow of the above sequence.
That's because there are several reigning paradigms within economic discourse that are
deficient for the purpose. Among these are the Cournot determination of price, the
Hedonic method of characterizing quality change and the Cobb-Douglas Production
Function. And all efforts to date.
Six Principia are needed to overcome these limitations. They change the emphasis in
economic growth accounting from Capital and Labor to an economic mechanism of
ideas operating in markets from i to GDP.
In their absence National Accounting lacks the most potent force growing the economy.
Growth requires 5 landmarks in non-economist Economics tabulated above since 1986.
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