about innovation
Think Differently to Think Better
Here's how to think differently about the Economics behind Innovation.
Performance perceived by the purchaser determines price,
in reciprocal relation to market quantity,
whose elasticity is always -1,
Where equilibrium balance is not helpful,
the basic equation fluctuates,
monopolies are not without competition,
and the Cobb-Douglas production function has never worked.
Bottom Line: Excellent Public Policy gets innovation measured.
