Innovation or growth economics is everywhere, but should it be taken at face value as a non partisan solution to present day economic woes and the single best strategy for local economic development? Let’s dissect the National Governors Association report, “Innovation America: the Final Report”. Is the really deep down justification for innovation and growth economics political, not economic? Like an iceberg, it’s what you don’t see that sinks ships.
Rummaging Around the Basement: The Economic Theory behind Innovation and the Knowledge-Based Economy
Have you ever noticed that most advocates for innovation and knowledge-based policies simply state that innovation, creativity, entrepreneurism, education are the best strategy for future economic growth in our new global competitive economy? Where’s the Proof? On what basis can they make that claim which most of us blindly accept? Let’s take a look at the little known economic “theory” which supports the innovation and knowledge-based “growth economics”.
Written for those of us who speak only English, not Economese!