Economic Quote by Michael Porter
“Innovation is the central issue in economic prosperity.”
About This Quote
Source Book: Competitive Advantage, 1985
Economic prosperity depends on continual innovation and strategic focus.
In simple terms: Innovation drives prosperity.
Key Takeaway
Prioritize innovation.
Themes
economics
strategy
innovation
Mood
analytical
optimistic
Type
strategic
economic
When to use this quote
- business
- government
- technology
Key Concepts
competitive advantage
growth policy
Questions to Reflect On
- How can you foster innovation in your field?
- What barriers exist?
A Different Perspective
Innovation alone may not guarantee wealth without execution.
![“Surely, nothing can be more plain or even more trite common sense than the proposition that innovation [...] is at the center of practically all the phenomena, difficulties, and problems of economic life in capitalist society.” quote by Joseph A. Schumpeter](https://sms4smile.com/quotes/img-quotes/41e/joseph-a-schumpeter-9723_capitalist_surely-nothing-can-be-more-plain-or-even_384413.jpg)
![“Just between you and me, shouldn’t the World Bank be encouraging MORE migration of the dirty industries to the LDCs [Less Developed Countries]?... I think the economic logic behind dumping a load of toxic waste in the lowest wage country is impeccable and we should face up to that... I’ve always…” quote by Lawrence Summers](https://sms4smile.com/quotes/img-quotes/ac4/lawrence-summers-16940_air_just-between-you-and-me-shouldn-t-the-wo_4703.jpg)
