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Is Innovation the Most Abused Word In Business? 287

dcblogs writes "Most of what is called innovation today is mere distraction, according to a paper by economist Robert Gordon, written for the National Bureau of Economic Research. Real innovations involve things like the combustion engine or air conditioning, not the smartphone. The paper includes thought experiments to help you gain more respect for genuine innovations such as indoor plumbing. The Financial Times has posted the complete 25-page paper.(pdf)"

Be careful when a loop exits to the same place from side and bottom.