Introduction MELF Equation Macro Metrics Micro Metrics Beyond GDP How To Access Acknowledgements About Us
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Business Innovation Economics
• Harvard economist Zvi Griliches (1930-1999) had exhorted colleagues to seek more and better data through his seminal paper ‘Productivity Puzzles and R&D: Another Non-explanation’ and in his American Economic Association Presidential Address ‘Productivity, R&D and the Data Constraint’. He knew what had to be explained but did not have the means to so. To his influential encouragement I dedicate the five decade enabling database dubbed DINTEC™ (Data on INnovation TEchnology and EConomics). If he hadn’t been thwarted by systemic lack of data he would no doubt have discovered how to reverse the hedonic equation, whose limitations he recognized, many years ago. • Through a mutual interest in data sourced from the Sears Catalog, Boskin Commissioner Professor Robert J. Gordon of Northwestern University introduced me - early on - to deficiences caused to price indexes by unquantifiable quality change (now solved by the MELF). •The MELF equation is named for the Macroscope and recognizes a new way of observing economic data conceived within Industry Studies by Ralph E. Gomory, former Director of Research at IBM, when President of the Sloan Foundation in 2005. • Richard N. Foster, former Director of McKinsey & Co., shared his research for the seminal book ‘Innovation’ whose S-curve data was crucial for validating the MELF.
These sources, though influential, bear no responsibility for the progressive knowledge now presented.
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