Innovation leads to wealth creation and economic growth! (Video)

By | August 14, 2014

Throughout history there are certain constants that have driven the creation of wealth and economic growth in a given society!

As this video will explain, it’s the accumulation of knowledge that is the key factor moving a civilization from one era to the next.

As an example, can you name the major differences between the lifestyle and tools available to the caveman compared those societies that came after?

It was knowledge that led to innovation which led to the development of the tools that allowed this society to advance to the next level.

The element of surprise!

Of course with innovation also came the accumulation of wealth in whatever form was endemic to a given time-period.

At the same time a key component of innovation, to the dismay of some, is the fact that it will also typically come as a surprise. In other words, innovation cannot be planned!

But it’s the freedom to innovate that is the key to the whole shooting match of a society creating wealth and continuing to grow economically.

So for some, particularly those in the position to make the rules for business, innovation presents a quandary.

However when government comes into the picture and implements onerous rules and regulations, a wrench is thrown into the wheels of innovation and by extension economic growth and wealth creation take a major hit.

Sounds like a Catch-22 for politicians!

This video explains how the process works:

H/T LinkedIn

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Written by Michael Haltman, President of Hallmark Abstract Service, New York.

HAS is a provider of title insurance in New York State for residential and commercial real estate transactions specializing in the areas of New York City, Long Island and Westchester.

Remember that you have the right to choose your own title company (click here to learn more)!

If you have any questions you can reach Michael by email at mhaltman@hallmarkabstractllc.com.

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