How Innovation Works

And Why It Flourishes in Freedom

by: Matt Ridley

in: Economics

Summary:

The book delves into the history and mechanics of innovation, examining how breakthroughs in technology, business, and society emerge through a combination of serendipity, trial and error, and individual ingenuity. It argues that innovation thrives best in environments that foster freedom, open exchange, and light-touch regulation.

Key points:

1. Collective Innovation: Ridley believes innovation is a group effort, not the work of a lone genius. It's a gradual process involving many people refining ideas over time.

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