Webster's New World Dictionary. Second College Edition. George Land and Beth Jarman. William G. Howard, Jr. and Bruce R. Guile. Profiting from Innovation.
Innovation cuts across a broad range of activities, institutions and time spans.
If any part of the pipeline is broken or constricted, the flow of benefits is slowed. This is felt ultimately in lower productivity and lowered standards of living. In this sense, the cost of capital is crucial not only at the early stages of research and product development but also at the later stages when high-technology products are installed in production processes, in both manufacturing and service industries, as new tools to improve worker effectiveness. James Botkin, Dan Dimancescu and Ray Stata. 1983. Rediscovering America's Creative Energy.