This week, Ashto and Jonesy redefine the reasoning and motivation behind innovation through How Innovation Works by Matt Ridley. In this book, Ridley argues that innovation is a process that turns existing inventions into practical and affordable solutions for other people.
But do we understand the true core of innovation and the best way to encourage it? Do we set targets, rules, and standards along with direct research? Or do we deregulate from these expectations and set people free? The pivotal factor that usually kickstarts an innovation remains mysterious until today. No economist or social scientist can fully explain why and when innovation happens.
To explain the process of innovation, Ridley refers to a wide range of innovation examples, including jet engines, potatoes, coffee, vaccines, toilets, vacuum cleaners, social media, artificial intelligence, and more. Through these fascinating case studies, Ridley dissects how each innovation started and why it succeeded or failed.
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