Innovation is the name of the game going forward in
economics. Innovation comes from prior lines of technology development, past
research, human capital, infrastructure, investment within the right
environment. One might even go a little further and say that innovation comes
down to the very micro transactions that occur between various elements that
lead to problem solving matched with funding opportunities.
What does that mean?
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Someone was throwing out 100 year old stamps. Found a person to take them. My idea was to put them between glass and make a coffee table. Wood working hobby. |
More importantly it may be possible to recreate that environment within a cluster to increase the chances that innovation, and possibly new industries develop off of existing paradigm discoveries. Ensuring transfer from academia to industry can improve innovative opportunities.
Anyway, the good news is that the U.S. is in the top 3 of
advanced nations for innovation. The bad news is that it’s not #1. It is
possible to speed industry development in theory. That is a backdrop of general
decline in patents worldwide.
You can read Global Innovation Index 2024
Yes, under the right conditions with the rapid changes after
Covid it is possible. The infrastructure has changed so it’s possible it now
becomes more efficient and people learn to use new technology coming forward
more effectively than other places. Possible anyway.
Dutta, et. al. (2024) Global Innovation Index 2024. World Intellectual Property Organization (WIPO) https://www.wipo.int/web-publications/global-innovation-index-2024/en/
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