Innovation leads to growth

<p>In modern economies, growth is needed to increase the quality of life of people. Plus, there is a financial requirement for growth. <a class="wikilink" href="/innovation_led_policies/">innovation led policies</a> are the response of states to ensure increasing levels of growth. </p> <p>Growth can be fueled by natural resources expansion (discovering a new oil field, expanding the number of harvested hectares, etc.) or by increased efficiencies in the production. </p> <p>Expanding natural resource exploitation may require infrastructure, it may require new technologies (new pesticides, new extraction techniques). </p> <p>Increasing efficiencies in production normally come associated with some form of technological innovation. A new industrial process, a new material. It can also be that efficiency gains come from external technologies, such as using wireless technologies for remote monitoring. </p> <p>A question I have is whether <a class="wikilink" href="/high_value_ideas_are_based_on_research_and_science/">high value ideas are based on research and science</a>. I think it depends on the level of industrialization of the economy being considered.</p>