In large measure, the material benefits of innovation spring from complementarities between technology and economics, where I include in "economics" not only economic ideas but also economic policies and, indeed, the entire economic system. When the economics is right, scientific and technological advances promote economic development, which in turn, in a virtuous circle, may provide resources and incentives that help to foster more innovation.
BIS Review 32/1998  -7-  Greece [1993] Finland [1996] Denmark [1995] Ireland [1996] United States [1996] Austria [1996] Italy [1996] Spain [1995] Norway [1993] Germany [1995] France [1995] Portugal [1993] Netherlands [1994] Japan [1996] Switzerland [1995] United Kingdom  33.3 31.6 29.9 29.8 20.2 12.3 6.0 3.8 3.7 -2.1 -2.8 -6.7 -19.7 -19.9 -99.0 n.a.