Non-economist Economics succeeds

From Ideas to GDP

Non-economist Economics succeeds in 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. Landmark advances from Non-economist Economics leading to Principia are tabulated from 1986 above. Move on using them. Don't stay behind like Von Nageli in The Parable.