Wow! Talk about short and to the point. Db, I long for a world resulting from the changes you put forward. Wouldn't it be wonderful?

To a first approximation, return on investment is equal to annual cash flow divided by capital investment cost. When your annual cash flow is negative ...

Part of my point is that there are no "right" economists to ask. There are better economist, but none of them really know what causes economic growth.

Yes, but libertarians and so-called free market economists undermine inventors' property rights and other property rights.

Three word answer for him...

Government Market Interference


Interference at all levels from conception through design, production, purchase, after purchase use.

Hello DB,
They have no desire to ask the right economists. They are statists that refuse to see that government command and control, over regulation, and excessive taxes are inhibiting innovation, investment and business creation. They only listen to the Krugmans despite history.
Respectfully,
O.A.

While invention is certainly the beginning of the chain, it takes a number of steps to develop the idea into a product and bring it to market. As each of these steps become harder to make, it is harder for the idea to become a product.

The increasing regulatory burden on productive enterprise is slowing or discouraging the adoption of ideas. For example, the current regulatory environment has caused many people to avoid the medical device market, or the medical field altogether, even though it represents an area that most needs innovation.