Abstract
Innovation is widely regarded as the best mechanism for gaining competitiveness in private sector activities, and there is evidence that the most profitable companies around the world are also the top innovators. Extending the innovation concept to the problem of poverty, which itself is inseparable from low productivity and lack of economic growth in diverse sectors of economies of low-income countries, we can count on innovation to improve productivity in these countries to deal a considerable blow to the endemic problem of poverty. Baumol [1] observed that essentially, all economic growth since the eighteenth century is attributable to innovation. It is therefore ironical and shocking that innovation has not gained a center-stage position, or to put it more succinctly innovation has not become the platform concept from which poverty need to be attacked.
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Agola, N.O., Awange, J.L. (2014). Innovative Solutions to Poverty. In: Globalized Poverty and Environment. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-39733-2_12
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DOI: https://doi.org/10.1007/978-3-642-39733-2_12
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