Comment on Schumpeter: Cheap and cheerful

Schumpeter: Cheap and cheerful

VICTOR HUGO once said that “nothing can stop an idea whose time has come”. He failed to add that a lousy product launch can delay it. In the first decade of this century it seemed that frugal innovation’s time had indeed arrived: to meet surging demand from new consumers in emerging economies, innovative firms in those countries were stripping products of their fripperies and cutting their cost drastically.

 

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