Conclusion
Findings
The key insights from the discussion in this paper are that:
(1) Continuous maximisation of national prosperity is a critical objective as a means of achieving other societally desirable outcomes.
(2) National prosperity can be increased if the economic complexity of the nation is increased.
(3) Economic complexity is increased if:
• Increasing number of firms through innovation manages to achieve a position of non-price based competition.
• Policy measures are put in place that facilitates and encourages development of firms in, new to the economy, areas that have, in economic complexity terms, a close proximity to existing activity areas and that have, as areas, an economic complexity that is higher than the average economic complexity of the nation.
• Policy measures are put in place to bridge structural holes in existing networks, enlarging of these existing networks, establishment of new networks, and increasing collaborative propensity. This since the increase in economic complexity is facilitated by the existence of large networks of agents with strong mutual connections allowing for achieving scale benefits, speed benefits, complementarity benefits, and knowledge sharing benefits.