Wednesday, July 30, 2008

Innovations, Age and other paradoxes

Grandiose as the heading of this post may be, I came across an interesting article by Niranjan Rajadhyaksha in Mint today. The article, referenced an American economist on the subject of innovation. Innovation has been viewed as the domain of young, dynamic people -- as something that makes a complete break from the past. What Rajadhyaksha highlights in his column via Lawrence Summers via Schumpeter, is that it may not be accurate to assume that, these days, innovation comes from these garage-types and not from within big corporations.

According to this article, there are two kinds of innovators, as identified by David Galeson, an economist at the University of Chicago: the conceptual innovators and the experimental innovators.
Galenson says that the conceptual innovators are the finders. They make bold leaps and challenge the existing way of looking at the world and doing things. This group mostly does its best work at an early age. The experimental innovators are seekers who gradually reach their goal, taking one step at a time. Their best work usually gets done later in life.
He cites some pretty interesting examples, like Jean Luc Godard, who did his best work in his younger years and Clint Eastwood, who hit his prime as a director well into his dotage. That some, like Steve Jobs, seem to have magically transcended the divide, is also duly noted.

It's interesting to apply this sort of thinking to politics. Can a comparison be made at all? The US Presidential election, with 'Change' at its center for its younger candidate, would certainly seem to suggest so. But think of India, where all our politicians not from political dynasties are gerontocrats. Are they capable of innovation in anything except new methods of graft?

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