Technology Matters   Q3: Professor Peter Howells:  That sounds as though innovation explains the whole of economic growth. That's  going to be a serious problem for economists who will point to the fact that growth  has self-evidently required additional resources.  Dr Chris Farrell:  Developmental knowledge, the D of R&D, is the primary input. And I have  established a four-link numeric chain between it and economic growth. Other  resources, such as capital and labor, are secondary. That insight came from looking at  an extensive five-decade database that tracks the annual economic fate of about a  hundred and fifty products in firms. Although DINTEC™ contains a small sample of  the economy, it possesses enough detail to discover, validate and calibrate the key  equation, later dubbed MELF – the Macroscopic Economic Lens Formula and named  after the new device I used ‘A Macroscope’.  Technology Matters Chicago  Technology Matters Chicago