Invention moves faster than innovation.
Peeps invent new gadgets and geegaws faster than people actually innovate by using them.
No one would think that the 88 year old William Baumol has been pointing this out for decade upon decade really.
Guy Dammann is the music critic of the Times Literary Supplement and writes on classical music and other subjects for the Guardian. He teaches at the Guildhall School of Music and Drama.
We\’ve just proved the utility of musicians writing about economics then, haven\’t we?
Next up, Liam Gallagher on the correct role of fiscal contraction during periods of above trend growth to be followed by Bono on growth strategies.