Innovation is one of those widely admired characteristics that’s also widely misunderstood.
The admiration is deserved. According to an I-sure-wish-I-could-track-it-down-so-I-wouldn’t-have-to-rely-on-my-memory essay published in The Economist more than a decade ago, quite literally all economic growth throughout history has been the result of technological innovation.
I’m in favor, but the vote is hardly unanimous. George Will, for example, takes the other side of the debate, asserting, “Most improvements make matters worse because most new ideas are regrettable …” If you agree with Mr. Will on this point you might as well skip the rest of this column.
For everyone else: