The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty by Efosa Ojomo, Karen Dillon

In his literary work, "The Prosperity Paradox: How Innovation Can Lift Nations Out of Poverty", Efosa Ojomo shows how technology, innovation, and entrepreneurship can help create a pathway out of poverty, and how investing in innovation can create a lasting economic impact on developing nations.

Ojomo begins the book by introducing the Prosperity Paradox, which he defines as the 'conflict between two problems: poverty and growth'. He goes on to discuss how traditional methods of economic development, such as aid, have failed to lift nations out of poverty, and how technological innovation can provide a more effective, long-term solution for sustainable economic growth. He argues that by focusing on creating an environment and culture in developing countries that allow and incentivize innovation, entrepreneurs can create solutions to poverty not just through their own business efforts, but also through the larger effect of their innovative solutions.

He goes on to analyze what he calls the 'Innovation Imperative' in which governments can provide the necessary support to enable the growth of the innovation economy. He points out that most of the innovative solutions to poverty require capital - both private and public - and that governments should focus on creating an environment that encourages private investors to invest in innovative companies. He also talks about how governments can support the growth of innovative businesses by providing incentives and acknowledging their importance.

Using examples from his own experiences, Ojomo then goes on to discuss how governments can create policies that facilitate and incentivize innovation. He talks about how the African diaspora can be a source of innovation and other ideas, and how the development of robust digital infrastructure can open many opportunities for entrepreneurs to create innovative solutions. He also goes into detail about how governments can create policies that help allocate resources efficiently, encourage entrepreneurial risk taking and build a culture of innovation.

Finally, Ojomo discusses the importance of measuring the impact of innovation on economic growth, and how to create effective metrics to track the economic impact of innovative solutions. He talks about which factors need to be considered when measuring impact, such as the level of investment, the number of jobs created and the number of innovative ideas that are implemented.

Overall, Efosa Ojomo's "The Prosperity Paradox" offers an in-depth insight into how innovation can create a pathway out of poverty, and how governments can create policies that will support and incentivize innovation. Through detailed examples, Ojomo provides a framework for governments and institutions to assess and understand the impact of innovation on economic growth, and on poverty alleviation. He also provides a way for all countries to come together to work towards solving the Prosperity Paradox.