Business Innovation Economics now provides the long sought, but always
missing, algebraic connectivity between innovation and growth, delivering
profound consequences to national policy in a globally interacting world.
The reason for success is data access and know-how unavailable to others,
lamented by a President of the American Economic Association who said,
‘What is it about our data and data acquisition structure, and possibly also our
intellectual framework, that prevents us from making more progress on this topic?’
In the twenty years since these words were spoken, very little progress has actually been
made. This is primarily because the required data is constrained from campus access,
hidden in commercial reports; within factories, corporate offices and technical centers.
However these resources are available to industry insiders, and especially to innovation
professionals. It’s their domain, and that puts them in a better position to understand and
then articulate the missing economics.
The discovery of a new equation, more similar in type to those found in physics than those
typical of economics, lies at the heart of a new measurement. From it innovation can be
calculated directly from economic data commonly found in industry but rarely collected
Unblock, if necessary, to explore the far-reaching academic and practical consequences of
the resulting '3 New Knowledge Categories' using the menu options above.