Innovation and Technology

Mat Ridley on Innovation.

I used to believe that innovation starts with science, and technology feeds off it. Scientists discover a concept and the others apply it. When I looked at this closely, I found the reality is usually the other way round. Developing a technology enables scientists to understand the concepts behind it. The steam engine was developed without any knowledge of thermodynamics. Science is important. It can produce innovation, but we overestimate the degree to which innovation starts with science.

What raises living standards is mundane tinkering with technology to make it cheaper and more effective. Technological tinkerers do not get the recognition they deserve.