The Surprising Evolution of the Term “Innovation”

Schumpeter does it.

Apparently innovation slowly began to ride the coattails of “invention,” which became popularized with the Industrial Revolution. Being new became something positive rather than doctrine-crushing. Then tides really turned for innovation around 1939, when Austrian economist Joseph Schumpeter tied the word to a new use–where invention was the act of creation, innovation was the act of inventing to drive a business model. The rest is history.

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