Egoistic Altruism – The reason why innovating for individual gain helps everyone

The video above is a wonderful explanation of a concept of innovation which is so often overlooked:

Individuals who lead innovation gain the most from it. But society gains even more overall in the long run.

At its most fundamental level, it is driven by the forces of economics.

Kurzgesagt, a wonderful Youtube channel explaining everything from gene editing to the end of the universe, just released this video about the driving forces behind global innovation.

Innovation is driven by supply and demand.

Supply goes up when more people around the world are educated and become inventors, scientists, engineers, and thinkers. This allows them to produce more than they consume and gain wealth.

Demand increases as people’s wealth increases and they have the means to buy new solutions to their problems.

The increased supply and demand result in more innovation in a virtuous cycle.

So put simply, it is good for you when people in a far-off part of the world are doing well.

Sometimes it takes something as simple as a new perspective on innovation to we are all connected.

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Chief Editor of Ideatovalue.com and Founder / CEO of Improvides Innovation Consulting. Coach / Speaker / Author / TEDx Speaker / Voted as the world's #5 Innovation blogger in 2016, I help individuals and companies build their creativity and innovation capabilities, so you can develop the next breakthrough idea which customers love.
By | 2018-03-26T12:59:01+00:00 March 26th, 2018|Innovation|0 Comments