One of the complexities when thinking about innovation, technological progress, productivity, and jobs is that each of those factors isn’t just one thing. For instance, Clayton Christensen, a professor at Harvard Business School, has differentiated between three different sorts of innovation. Christensen : The first are “empowering” innovations. These transform complicated, costly products that previously had been available only to a few people, into simpler, cheaper products available to many. The second type are “sustaining” innovations. These replace old products with new. … The third type are “efficiency” innovations. These reduce the cost of making and distributing existing products […]
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