U.S. 3.3% GDP Increase Q4, 2023: Transactional Innovative Clusters Discussed

The economy looks like its still moving forward and that is a positive trajectory sign. Consider.....

"Real gross domestic product (GDP) increased at an annual rate of 3.3 percent in the fourth quarter of 2023 (table 1), according to the "advance" estimate released by the Bureau of Economic Analysis. In the third quarter, real GDP increased 4.9 percent." BEA Q4, 2023 3.3% GDP

What I also like is that personal income is rising because that means in part that its movement helps in the fight against income disparity. It doesn't solve the issue but indicates that market factors are pushing incomes upward. While its not enough to put much of a dent in years of income disparity it is a small hopeful step in the right direction.  👏

[I'm working on a concept called economic innovative transactional clusters so I like to look at what is going on in the market and how that might impact such a system. A cluster functions best at the place where industry is leading edge, at the center of the global supply chain, and produces the highest market driven value products a market can muster. The workers within these clusters make more when compared to those outside the cluster because they utilize their skills in unique ways to generate that additional value.  

Higher wages are related to highly skilled human capital and market value creation at its root. At least in broad based capitalism. In essence, a person with a better hammer and a valuable product to use it on will make more when compared to someone with a dull hammer and product everyone else is producing. If you have a high market value product, the right tools to build it and the right person to build/and improve then you have what you need.

The transactional cluster theory seeks to create a location where high innovation occurs as a result of multi-industry R&D mixed with human capital to spark wider innovations. Wages would be high in these locations because of the innovative process and next generation products that would need the advanced skilled workers to keep developing the highest value products. i.e. leading the market. The more high value central supply chain industries, the more middle class earns. Then expand that idea to other industries and places.]