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The Power of Market Creation

How Innovation Can Spur Development

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The Power of Market Creation

By: Bryan C. Mezue, Derek van Bever, Clayton M. Christensen
Narrated by: Kevin Stillwell
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To create broad-based and sustainable economic growth, governments in the developing world should foster market-creating innovation - that is, the generation of new products and services that reach an entirely new population of customers.

©2015 Foreign Affairs (P)2015 Audible, Inc. Economics Social Sciences
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Profile Image for a lisa

interesting

this is Part 10 of the Foreign Affairs: Schumpeter's Heirs article.
interesting article, promoting efficiency innovation as a growth strategy, as in producing more with less people or other types of resources. one point noted is that overall, for a country or a state, for example, this approach needs to be doubled by market creating innovation, so development in new areas or “competing against non-consumption”, to create new jobs for the displaced sector, which will also ensure consumption of produced goods is sustained and new demand is generated (like Samsung, which started as a trading company, and then opened up an electronics branch in South Korea, in collaboration with Japanese technology companies, after the Japan tech boom). an idea i did not agree with is -infrastructure investments in developing countries fail to drive long-term growth- and i would challenge that with the example of linking 2 cities via a new highway, or improving internet coverage, cases analysed a lot in other texts.

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