How EC works
  • Introduction
  • How the Economic Machine Works
    • How the Economic Machine Works: “A Transactions-Based Approach”
    • How the Market-Based System Works
    • The Template: The Three Big Forces
    • 1) Productivity Growth
    • 2) The Long-Term Debt Cycle
    • 3) The Short-Term Debt Cycle
  • Debt Cycles: Leveragings & Deleveragings
    • An In-Depth Look at Deleveragings
    • The Ugly Deflationary Deleveragings
    • The Beautiful Deleveragings
    • The Ugly Inflationary Deleveraging
    • A Closer Look at Each
      • United States Depression and Reflation, 1930-1937
      • Japan Depression and Reflation, 1929-1936
      • UK Deleveraging, 1947-1969 UK Deleveraging,1947-1969
      • Japan Deleveraging, 1990-Present
      • US Deleveraging, 2008-Present
      • The Recent Spain Deleveraging, 2008-Present
      • Germany’s Weimar Republic: 1918-23
    • US Deleveraging 1930s
      • Preface
      • Conditions in 1929 Leading up to the Crash
      • 1H1930
      • 2H1930
      • 1Q1931
      • 2Q1931
      • 3Q1931
      • 4Q1931
      • 1H1932
      • 2H1932
      • 1933
      • March 1933
      • 1934-1938
    • Weimar Republic Deleveraging 1920s
      • Overview
      • World War I Period 1914 – November 1918
      • Post-War Period November 1918 - December 1921
      • Hyperinflation
      • Second Half of 1922
      • 1923
      • Stabilization: From Late 1923 Onward
  • Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
    • Part 1: The Formula for Economic Succes
      • A Formula for Future Growth
      • Projections
      • Productivity and Competiveness Measures
      • Our Productivity Gauge
      • Value: What You Pay Versus What You Get
      • A Simple Measure of Cost: Per Capita Income
      • Education
      • Cost of a Productivity Adjusted Educated Worker
      • Working Hard
      • Working Hard Subcomponent: Average Hours Worked
      • Working Hard Subcomponent: Demographics
      • Investing
      • Investing Subcomponents: Aggregate Fixed Investment Rates
      • Investing Subcomponents: Household Savings Rates
      • Culture Components
      • Self-Sufficiency
      • Self-Sufficiency Subcomponent: Work Ethic
      • Self-Sufficiency Subcomponent: Work Ethic - Average Hours Worked
      • Self-Sufficiency Subcomponent: Work Ethic – Labor Force Participation
      • Self-Sufficiency Subcomponent: Work Ethic – Actual Vacation Time
      • Self-Sufficiency Subcomponent: Work Ethic – Retirement Age as Percentage of Life Expectancy
      • Self-Sufficiency Subcomponent: Government Supports
      • Self-Sufficiency Subcomponent: Government Supports – Government Expenditures
      • Self-Sufficiency Subcomponent: Government Supports – Transfers to Households
      • Self-Sufficiency Subcomponent: Labor Market Rigidity
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Unionization
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Ease of Hiring and Firing
      • Self-Sufficiency Subcomponent: Labor Market Rigidity – Minimum Wage as Percentage of Average Income
      • Savoring Life Versus Achieving
      • Savoring Life Versus Achieving Subcomponents: Observed Outcomes
      • Savoring Life Versus Achieving Subcomponent: Expressed Values
      • Innovation and Commercialism
      • Innovation and Commercialism Subcomponent: Outputs
      • Innovation and Commercialism Subcomponent: Inputs
      • Bureaucracy
      • Corruption
      • Rule of Law
      • Our Indebtedness Gauge
      • Debt and Debt Service Levels
      • Debt Flow
      • Monetary Policy
      • Summary Observations
    • Part 2: Economic Health Indices by Country, and the Prognoses That They Imply
      • India's Future Growth
      • China's Future Growth
      • Singapore's Future Growth
      • Mexico's Future Growth
      • Thailand's Future Growth
      • Argentina's Future Growth
      • Korea's Future Growth
      • Brazil's Future Growth
      • USA's Future Growth
      • United Kingdom's Future Growth
      • Russia's Future Growth
      • Australia's Future Growth
      • Canada's Future Growth
      • Germany's Future Growth
      • France's Future Growth
      • Hungary's Future Growth
      • Spain's Future Growth
      • Japan's Future Growth
      • Italy's Future Growth
      • Greece's Future Growth
      • Appendix: List of Statistics that Make Up Our Gauges
    • Part 3: The Rises and Declines of Economies Over the Last 500 Years
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  1. Productivity and Structural Reform: Why Countries Succeed & Fail, and What Should Be Done So Failing
  2. Part 1: The Formula for Economic Succes

Innovation and Commercialism Subcomponent: Outputs

PreviousInnovation and CommercialismNextInnovation and Commercialism Subcomponent: Inputs

Last updated 7 years ago

We would expect a country that has more innovative and commercially minded people to create more patents and trademarks, more businesses—in other words, that it is actively creating new ideas, protecting its intellectual property and capturing the rewards of this innovation. So we look at these outcomes as one way to get a sense of the society's innovative and commercial spirit. Some outcomes are more directly indicative of innovation (like patent creation), others more direct signs of commercialism (like new businesses created or the prevalence of entrepreneurs), and some show the signs of combining the two (like royalty fees).

我们期望一个拥有更多创新和商业意识的人创造更多的专利和商标,更多的企业 - 换句话说,它正在积极创造新的想法,保护其知识产权并获得对这一创新的回报。所以我们将这些成果看作是了解社会创新和商业精神的一种方式。一些成果更直接地反映了创新(如创作专利),其他更直接的商业主义迹象(如新创业或创业者流行),有的显示了两者结合的迹象(如版税费)。

When we look at these measures on their own, they are fairly related to a country's income, which is intuitive since rich countries tend to have more resources to invest and have higher levels of education and accumulated knowledge, so are more likely to lead in creating innovations valued in the market. On the raw measures, you see many poor countries at the bottom, like India or China (that might have a strong innovative spirit but you wouldn't expect to be leading innovators right now) behind rich countries, like France or Italy, that may actually have less drive to find new ideas and build businesses. But when we adjust for income, both India and China move up a lot, especially India, which appears just as innovative and commercial as the US when you account for its stage of development. Either way you look at it, the US tops our scores for the outputs of innovation and commercialism. After taking out the effect of income, rich countries like the US and Japan still stand out as highly innovative. The European periphery countries (Greece, Spain and Italy) have the worst scores once you adjust for how few new commercial innovations they're producing in light of how rich they are. France, Brazil, and Russia are just behind.

当我们单独研究这些措施时,与国家的收入相关,这是直观的,因为富裕国家倾向于拥有更多的资源进行投资,拥有更高的教育水平和积累的知识,所以更有可能导致创造在市场上重视的创新。关于原始措施,您会看到许多贫穷国家,如印度或中国(可能具有强大的创新精神,但您不会期望成为领先的创新者),在法国或意大利等富裕国家,可能会实际上有更少的机会找到新的想法和建立业务。但是,当我们调整收入时,印度和中国都有很大的进步,特别是印度,当你处于发展阶段时,这似乎与美国一样创新和商业化。无论哪种方式你看,美国都是创新和商业主义的成就。在收到收入的影响之后,像美国和日本这样的富裕国家仍然高度创新。一旦您根据自己的丰富程度调整了几个新的商业创新,欧洲周边国家(希腊,西班牙和意大利)的分数就会最差。法国,巴西和俄罗斯就在后面。

Below you can see a more granular view of how each country scored for each measure.