How innovation maintains and develops democracy
How innovation maintains and develops democracy

Summary/Abstract: Innovation is a superior driving force for economic development in a capital, market-based economy. Entrepreneurs carry out innovations, be it business or social entrepreneurs. Theoretically, according to the Franco-Austrian-Norwegian (FAN) scientific tradition, innovation is defined as a new combination of the first and second input factors in a production function. The result of successful business and social entrepreneurship is economic development, equal rights, a better world, peace, freedom, a more secure society for everyone, as well as technological, economic and social progress. These are all parameters that define the modern Western style democracy, and even more, these prerequisites represent the conditions for the maintenance, construction and dissemination of democracy to new territories throughout the world. Successful entrepreneurs are private individuals whose role can never be substituted by any group of members, be it political parties, governments, boards of directors, committees or power based authorities like the political boss. Throughout history, we have seen national states, big and small, trying to overrule the wisdom of science and that they have failed. We have seen the horrors imposed on civil populations, both nationally and globally, as a result of the failed Marxist-based socialist political ideology concerning the distribution of wealth. The process of wealth creation lays the foundation of a democracy, and only individuals can undertake the formation of economic progress.

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