September 18, 2009

In the long run, standards of living can be expanded only with innovation

Reading the The Global Competitiveness Report 2009-2010 published by the World Economic Forum, I was not least struck by this part on page 7:
"The final (12th) pillar of competitiveness is innovation. Although substantial gains can be obtained by improving institutions, building infrastructure, reducing macroeconomic instability, or improving human capital, all these factors eventually seem to run into diminishing returns. The same is true for the efficiency of the labor, financial, and goods markets. In the long run, standards of living can be expanded only with innovation."

What are you doing to speed up innovation? How are you challenging status quo, for example at the companies you work for?
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