It seems to be the season in business magazine land for special innovation issues. Harvard Business Review, Inc., Entrepreneur – and now grand-daddy The Economist, with an editorial this week titled Thanksgiving for innovation.
Governments worship at the altar of innovation these days for good reason. Far from being simply some missing factor in the growth equation, innovation is now recognised as the single most important ingredient in any modern economy—accounting for more than half of economic growth in America and Britain. In short, it is innovation—more than the application of capital or labour—that makes the world go round. And, so, after almost 160 years of puzzling over such matters, The Economist has decided that the innovators of the world are due some special recognition.
The attention in print complements their inaugural Economist Innovation Summit and Awards that was held in San Francisco two days ago. Six of the winners, in categories skewing towards the science and technology realm of innovation, are described (quite briefly actually) in the article.