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Is New Really Better?

Is New Really Better?

The fundamental impulse that sets and keeps the capitalist engine in motion comes from the consumer’s goods, the new methods of production or transportation, the new markets, the new forms of industrial organization, that capitalist enterprise creates.

– Joseph Schumpeter

I love Apple products. But that’s not what this post is about. It’s about a very interesting concept which we all fall prey to at some point in time. We (humans) always crave new experiences. In fact as Schumpeter says in the quote above, making new things is a sign of growth. What he doesn’t mention there & is perhaps hidden between the lines is that it only works when we’ve mastered the other things we’re previously good at. New for him meant incremental. Continue reading