How do you create a new wealth?
We all know that the GDP of a nation is based on the total value of goods and services produced/moved during a given period, and that if this production and movement ceased, then businesses and the economy would go into recession.
The total global economic output is specific and fixed, and what’s happening is that times are always changing and that the growth of countries and the rise of a surplus trade balance is necessarily followed by a deficit in the trade balance of other countries.
But if that is the case, then the total global economy would have been the same for thousands of years; this is contrary to the reality and truth. There is an increase in the long-term global GDP that can cope with the permanent population growth in the world; it is a cause and a consequence for it. And it is also asserted by the saying of Allah almighty; (And the heaven We constructed with strength, and indeed, we are [its] expander).
There is new wealth created over time that can cope with the population and economic growth that necessitate covering the living needs of food, housing, goods, services, basic and job opportunities.
So how is this new wealth created?
The answer is simple; Innovation.
Only Innovation can create new wealth and add real value to the world economy, and also give the opportunities to those who wish to establish and compete in markets which are increasingly and unfairly being protected by those who already own the largest slice of the pie.
What does Innovation here actually mean?