A longer view on innovation shows growth

Filed under Economy, News digest

Increased efficiency is often blamed for job loss, yet the money saved from innovations can fund future economic growth, a new study by the McKinsey Global Institute reported. “Companies can pass on those savings to their customers in the form of lower prices, leaving households and businesses with more money to spend elsewhere. They can also reinvest savings from more efficient operations in new job-creating activities,” the report said.

You must be logged in to post a comment Login