Innovation improves the quality of everyday objects and the services they provide. But in business, which must survive and prosper, innovation must also deliver on cost. Taking both into account requires the ratio (Q/c), where Q is the quality perceived by the item’s purchaser (as calculated using the MELF) and c the unit cost of its delivery. The ratio is not an indicator of innovation, it is not a proxy for innovation; it is an exact measurement of innovation.When calculated annually for a large number of items whose data is uniquely available from the DINTEC™ resource, its aggregate Sum: (Q/c) is a Macro Metric of technology growth. For all durable goods it rises over five decades in a unique shape with distinctive cusps and inflections.And when the D of R&D is also summed it reflects the same distinctiveshape, but a few years earlier. Such a delayed but direct connection has been unsuccessfully sought for decades in the era of TFP without MELF.It’s profound for economic policy that spending on the D of R&D drivesideas through the innovation funnel, because the resulting product qualityupwardly effects the output of goods to which D has been previously applied. Now a nation can project what must be spent in a given year to make specificgrowth likely in a subsequent year while simultaneously benchmarking theproductivity of its national system of innovation. These capabilities arecurrently an impossible dream.