Quote:
Originally Posted by RickyMaveety
I was listing to a radio show the other day, and one of the commentators noted that much of the best innovation occurs as companies need to improve their bottom line in times of economic slow down.
I have no idea if he was right or not, he could be dead wrong, but I hope he's right. I think the general thrust of what he was saying was that in times of economic downturn, people tend to keep their old stuff and repair it, and make due with it rather than just spring for the new model. What gets then to put a few bucks out for something new is when there is a significant change in the technology. The difference between "that's nice" and "OMG!!"
Again, he might have been talking out of his ass, but there is some logic to the idea that appeals to me.
|
I've heard similar arguments, and I think there is some evidence of this from previous downturns/recessions, provided they have not been too deep. One argument is that people get laid off and with time on their hands, start inventing, or dust off that idea they've just not had time to work on. Another argument is that downturns/recessions force changes in patterns (e.g. spending, work, ....) and this then open up new areas of investigation that might previous have been ignored.