From Peter Swann’s post:
Many business-enhancing innovations are organisational innovations, outsourcing innovations, restructuring innovations or financial innovations. They are very valuable to the innovator, and the financial services industry, but do little or nothing of value to the end-user.
The advent of globalisation meant that many towns dependent on a traditional manufacturing industry saw their income and employment decline as production was relocated to lower-wage economies. This led to many social and economic problems in depressed towns.
What is the best way to create and share prosperity in a society? Professor Peter Swann argues that common innovation is about ordinary people creating the wealth of nations, and that business has no monopoly over innovation or wealth creation.
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