The idea equation for economic growth
Religion & Liberty Online

The idea equation for economic growth

The key to creating economic flourishing is economic growth and the key to creating long-term economic growth is to create new ideas. But what is the key to creating ideas that lead to innovation?

Economist Alex Tabarrok says the idea equation goes like this: Ideas = Population x Incentives x Ideas/per hour

This equation is a useful way to lay out the factors affecting idea production, says Tabarrok in the video below. When we understand the factors behind production, then we can better predict how the future will go.

Joe Carter

Joe Carter is a senior writer for The Gospel Coalition, author of The Life and Faith Field Guide for Parents, the editor of the NIV Lifehacks Bible, and coauthor of How to Argue Like Jesus: Learning Persuasion from History’s Greatest Communicator. He also serves as an associate pastor at McLean Bible Church in Arlington, Va.