how Idea becomes Invention & how Innovative Objects cause Economic Growth
The Economics of an Idea, is
These two 'hows' require (a) a rigorous economic definition of innovation and (b)
enumeration of a quorum of them along clearly tabulated paths to GDP within a
National Accounting framework. This elevator pitch is vital to Growth Economics,
yet (a) to (b) is still outside Growth Accounting, when it ought to be inside
The prevailing attitude is (a) to (b) is 'impossible' and that 'thinking like we do' is
preferred. Unfortunately 'thinking like we do' includes the belief that a multiple
tweak to 'Total Factor Productivity' will eventually work despite decades of
evidence to the contrary. 'Factor Productivity' is a proxy, actuality lies in (a) to (b).
Techmatt is independently derived. For that profound reason it succeeds and leads.
Techmatt originates from tacit knowledge unknown to those who do not practice.
It was developed episodically under commercial rules of non-disclosure and not under
academic freedoms to publish and teach. Its potency is uniquely strong because it
is fueled by data on actualities that are not otherwise available to outsiders.
Techmatt came into the public domain in 2018. You can take advantage of what it
offers in 8-Steps. Follow these 8-Steps from the 8-Steps tab above or download,
study and digest the 100 pages of tacit knowledge now made public,
What gets measured gets done. When innovation gets measured innovation gets
done. And when innovation gets done GDP rises. Therefore (a) to (b) signposted
along this route can invigorate planning for growth in any economy, and should.
Application of (a) to (b) can also reverse the UK's growth slump, 14 pages HERE
