![]() Innovation is the complete process of taking new ideas and devising new or improved products and services. We should care about innovation, because it is the only way to ensure sustained long-term economic and human-welfare growth, not because it is new or cool. ![]() ![]() If it was, it would have a feeble effect on economic growth and welfare. Innovation is not just the invention of new shiny things. Aiming to foster the fruitful exchange of expertise and perspectives across fields to help us rise to this critical challenge, opinions expressed do not necessarily represent the views of the OECD. This excerpt from Innovation in Real Places: Strategies for Prosperity in an Unforgiving World published by Oxford University Press (2021) is part of a series in which experts and thought leaders - from around the world and all parts of society - address for the OECD the COVID-19 crisis, discussing and developing solutions now and for the future.
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