Innovation Incentives Quotes & Sayings

We need to find a way to safeguard humanity whilst still offering short-term financial incentives. For sure, we need innovators in finance more than we need innovation in technology. — David W. Wood

These four policy prescriptions - strengthening educational opportunities, revamping immigration rules for highly skilled workers, increasing federal funding for basic scientific research, and providing incentives for private-sector R&D - should in my view be top priorities as Congress and the Administration consider how to maintain the nation's leadership in science, technology, and innovation. — Bill Gates

Supply-side economists argue that because lower tax rates allow everyone in the private sector to keep more of what they earn, tax relief provides citizens with strong incentives to work longer hours (thus increasing labor), to save and invest more of their income (thus increasing capital), and to devote more attention to innovation of all kinds (thus increasing efficiency, or TFP). — David A. Moss

If you look at history, innovation doesn't come just from giving people incentives; it comes from creating environments where their ideas can connect. — Steven Johnson

What most of these doomsday scenarios have gotten wrong is the fundamental idea of economics: people respond to incentives. If the price of a good goes up, people demand less of it, the companies that make it figure out how to make more of it, and everyone tries to figure out how to produce substitutes for it. Add to that the march of technological innovation (like the green revolution, birth control, etc.). The end result: markets figure out how to deal with problems of supply and demand. — Steven D. Levitt

Where was innovation to come from? We have argued that innovation comes from new people with new ideas, developing new solutions to old problems. In Rome the people doing the producing were slaves and, later, semi-servile coloni with few incentives to innovate, since it was their masters, not they, who stood to benefit from any innovation. As we will see many times in this book, economies based on the repression of labor and systems such as slavery and serfdom are notoriously noninnovative. This is true from the ancient world to the modern era. In the United States, for example, the northern states took part in the Industrial Revolution, not the South. Of course slavery and serfdom created huge wealth for those who owned the slaves and controlled the serfs, but it did not create technological innovation or prosperity for society. N — Daron Acemoglu

It's time to admit that public education operates like a planned economy, a bureaucratic system in which everybody's role is spelled out in advance and there are few incentives for innovation and productivity. It's no surprise that our school system doesn't improve: It more resembles the communist economy than our own market economy. — Albert Shanker