Penetrates to the Origins of Economic Growth in Profoundly New Ways
Business Innovation Economics
It’s apparent to most people that business innovation drives economic
growth. But despite notable attempts, Economics still provides no rigorous
numerical linkage between any portion of GDP and preceding business R&D.
Economics does, however, calculate the stock of ideas from which new
technology and products are developed. But simply placing this capital at
the mouth of the innovation funnel is insufficient to determine growth. Only
successful passage through the funnel achieves this. Yet Economics is
silent on that, perhaps for the following reason,
Pertinent business information is systemically hard to come by. It’s hidden
from campus reach, in commercial reports; within factories, corporate offices
and technical centers. And most of the latter directly relates to the funnel.
Innovation professionals simply haven't known the need for it within
Economics. Once realized, it becomes a natural extension to use these
information sources to fill the gap.
Resulting new methodology not only informs National Accounting but also
National Systems of Innovation, which become comparable and improvable.
The consequences for economic growth within any economy are profound,