The Kovid-1 pandemic epidemic has been suffocating in its ability to have a profound effect on almost everyone in the world. Equally exciting is the biomedical advances that have enabled 47 vaccine candidates to reach clinical assessments in recent months.D
The news on Monday, November on, that one of the vaccine candidates is seen to be defending the vast majority from Covid-1 from, is boosting the confidence of investors and public health experts. Vanguard sincerely hopes that further research confirms the good news and that a vaccine for widespread use may be approved in the coming months. It is conceivable that many of the vaccine test takers may report similar efficacy in the weeks ahead.
We are not surprised that this point has been reached so quickly. The fields of genetics and biomedicine have been filled with innovative concepts over the past decade, and successes over the next decade are likely to have a profound effect on productivity. This is a phenomenon that we have identified in Idea Multiplier, our 2019 study found that future productivity is fundamentally driven by generation, promotion and further expansion of ideas.
Idea Sharing: A significant force for increasing productivity
In our study, what we call the “Idea Multiplier” determines the amount of academic-paper quotes in and across industries and countries based on nearly two billion records. We have seen that thought sharing is a significant force for future productivity growth, and the recent low growth era was nearing its end.
The figure shows how the idea multiplier relates to genetics and biomedicine, accelerating at speeds like computers and telecommunications almost four decades ago.
Today’s ideas in genetics and biomedicine are growing rapidly
Comments: The Idea Multiplier is a proprietary metric that tracks the flow and growth of academic citations. It has been shown to be a major indicator of productivity growth. For more information, see Vanguard Paper Idea Multiplier: There is an acceleration in innovation.
We will not let our optimism about vaccine development lose sight of the huge challenge before us. The spread of Covid-1 is also accelerating, with more than 500 million cases reported worldwide to date, and more than 100,000 new infections recently reported in several countries, including the United States.2 Vaccines will take time to produce and distribute.
The economy has recovered somewhat from the sharp fall they have suffered since the onset of the epidemic, but even a highly effective vaccine will not lead to strong economic growth overnight. Nevertheless, this crisis will finally come to an end, and this week has brought a real signal of what we know is a decade of sharing ideas in the making.
D Source: World Health Organization, November 3, 2020
2 Source: Johns Hopkins Coronavirus Resource Center, November, 2020.
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