Tinkering and economic development? Compare the U.S. with 3 countries.

U.S. innovative economic success is based largely on four notions; ‘tinkering’, materialism, a flexible financial infrastructure and a high tolerance for failure at both the corporate and individual level. Tinkering puts ideas into action. Consumer-driven materialism ensures a ready market for new ideas. A flexible financial infrastructure facilitates the relatively easy establishment and destruction of enterprises. An open attitude to failure encourages individuals and corporations to try new ideas, gadgets, and business models. All four are most prevalent in the United States economy while only one, two or three may be present in other economies.Compare the presence of these four notions in the U.S., Canada, Russia and Japan. Download ‘Tinkering etc.’