Necessity no longer seems to be the mother of invention.
Mobile phones, iPods, televisions, and other gadgets are practically designed for the dump nowadays, as consumers ditch them after a year or two for the newer iterations.
But the so-called disposable consumer society these rapid-paced innovations have helped create is a critical driver of the American economy, because it encourages consumers to keep their wallets open.
In most cases when it comes to innovation, the simple fact that something is new and being purchased is a demonstration of its value, economists and business professors argue.
To read the full, original article click on this link: Future of Innovation 2011 — Special Report — Good vs. Bad - CNBC
Author: Janet Whitman
