My view is that innovation has declined in the everyday processes that businesses tinker with incrementally as they try to become more productive over time.
Tags: try, view, innovation, time

Other Quotes by "Edmund Phelps"

Mass prosperity came with the mass innovation that sprung up in 1815 in Britain, soon after in America, and later in Germany and France: It brought sustained growth to these nations - also to nations with entrepreneurs willing and able to copy the innovations.
Tags: copy, america, innovation, growth
Workers in decent jobs view the economy as unjust if they or their children have virtually no chance of climbing to a higher rung in the socioeconomic ladder.
Tags: ladder, chance, view, children
Well into the 20th century, scholars viewed economic advances as resulting from commercial innovations enabled by the discoveries of scientists - discoveries that come from outside the economy and out of the blue.
Tags: come, economic, well, blue
No amount of debt restructuring, even debt forgiveness, will help the Greeks achieve real prosperity. What they need is not short-term relief but, rather, a long-term cure.
Tags: achieve, real, will, forgiveness
Companies like Google and Facebook may offer jobs allowing or requiring imagination and creativity, but the whole of Silicon Valley accounts for only 3 percent of national income and a smaller percentage of national employment.
Tags: only, like, creativity, imagination
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