Innovations not necessarily connected with strong economic growth and innovative economies are not forever the generally victorious. Stories abound of coders living eight to a single bedroom or in a shipping storage place to work in their dream job strategy makers during the earth promote the need for innovation. As an expression of techno-nationalism, a term coined by equipment historian David Edgerton in his book The Shock Of The Old.

The explanation for this centre of attention is simple. Innovation is seen as a method of boosting flagging growth, deliver improved existing principles and allowing high levels of debt to be dealt with painlessly. Innovation is also view as a means to deal with environmental modify (itself the consequence of uncontrolled and untemper technologies) without serious impact on economic activity and wealth.

This faith is found more in expect fairly than reality. Innovation is not necessarily linked with tough economic increase and innovative economies are not forever the mainly doing well.

First, the idea of innovation as expressed by policy makers is vague. It ranges from fuzzy ideas of development to more narrow industry policy. The purpose is to increase growth and create service, particularly well-paid work. However, the correlation between new inventions or innovation and the identified objectives is tenuous, at best.

Second, there are few precise policy proposals, other than advertising campaigns, subsidised financing or speculation programs, tax incentives and condition of infrastructure.

Ironically, some measures reverse previous funding cuts. They seek to re-establish explore facilities that were scaled back previously. Tax and financing incentives usually attract astute businesses, often foreign-based. These firms avail themselves of the profit, but there is no guarantee that they will maintain to operate in an exact location once the subsidies are discontinued.