The virtue of excellence
All things come to he who waits, as long as he hustles like hell while he's waiting. Move forward or fall behind. Insert other cliches here:In short, building the better mousetrap has always been the way to make money. The economics of scarcity demand that. And believing you can rest on you laurels is nuts in a competitive situation.
I'd answer the question by noting that there is a vast difference between all and almost all.And that the industrial revolution was basically the result of us vastly improving our search algorithms for finding that 0.01% of new solutions that do work.(For one thing, we actually started looking.)
The "reality" that "all new solutions to problems... fail" is not real. You want "most" or "almost all".Also, economic growth is not purely a function of innovation. The size of the economy is its total production, so growth is possible with more labor, land or capital. Those stated, I second drpat.
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