The Role Of Abundance In Innovation
from the it-increases-it… dept
<http://techdirt.com/articles/20090526/0151295007.shtml>
A few weeks back, Dennis wrote about a recent Malcolm Gladwell article in the New Yorker about innovation, but I was just shown another article from the same issue, by Adam Gropnik, which may be even more interesting. Gopnik points to evidence challenging the idea that “necessity is the mother of invention,” by noting that more innovation seems to occur in times of abundance, rather than times of hardship. The idea is that in times of hardship you’re just focused on getting through the day. You don’t have time to experiment and try to improve things — you make do with what you have. It’s in times of plenty that people finally have time to mess around and experiment, invent and then innovate.
This makes a lot of sense… and certainly fits with plenty of other things we’ve seen in recent research. Innovation tends to occur not because of one brilliant idea from one brilliant individual — but as an ongoing process, with lots of folks tossing different ideas at the wall, and seeing what sticks. Invention is the beginning process, but then people innovate around various inventions to improve it and make it acceptable to the market. In fact, this is why we tend to think that the long run impact of investment bubbles isn’t usually bad. Historically, the impact of bubbles has actually been quite good, and it’s for exactly these reasons. Within the bubble there is tremendous abundance, and that allows for many different ideas to get tested incredibly quickly. The bad ones fail, but plenty of good ideas (and infrastructure) stick around. It’s bad if you get caught up in the investment bubble, but it’s good for the overall economy in the long run.
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