How We Create the Wealth of Nations
Chapter 25: Many Routes to Wealth Creation
In this chapter, I turn to a second essential implication of our analytical framework. In Chapter 6, we contrasted two visions of innovation and wealth creation. The first (Figure 6.1) was a framework with one main route to wealth creation. The second (Figures 6.2 and 6.4) was a framework where, at least in principle, there are a large number of possible routes to wealth creation. In view of what we have argued in Chapter 6 and seen in Part III, I am interested in the latter. MANY ROUTES It is helpful to have another look at Figure 6.4, which I have reproduced below, for convenience. It may help to think of this diagram as a road-map. It contains, on the left hand edge, the ‘motorway’ from business to marketplace to consumption and M-wealth creation as understood by business, and as shown in Figure 6.1. But it also shows all the many other routes that lead, eventually, to R-wealth creation. These routes may be narrower and more circuitous, but in aggregate, they can be very important – as we shall see later in this chapter. This roadmap metaphor is a useful one. Metaphorically speaking, big business is generally rather preoccupied with the motorway,1 but the minor routes can also make many important common innovation contributions to the creation of R-wealth.
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