Abstract
To invent is to find a new thing; to innovate is to get the new thing done. In all but the exact form of words, the definition is Joseph Schumpeter’s, and it was he who also first called attention to the way in which the difference between the two functions is even reflected in the sociological and psychological types: Some people are good at producing ideas but less good at turning them into concrete realities, whereas others are noted for their ability to carry into practical effect, ideas which they have not originated themselves. Both activities, as discussed in Innovation, are most intelligible as related aspects of human creative activity, but this leads to a further important distinction: Creativity on its own can give us Invention and Art almost irrespective of material circumstances. One has only to think of the poverty out of which Clarence Goodyear produced vulcanized rubber, or that of Schubert in Vienna, making music worth more than all the gold of all the Hapsburgs, to realize this.1
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Notes
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© 1984 Martinus Nijhoff Publishers, The Hague
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Kingston, W. (1984). Innovation and market power. In: The Political Economy of Innovation. Studies in Industrial Organization, vol 4. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-6071-8_1
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