Hello, I like how you frame Schumpeterian waste. One thing he and Keynes had in common is that while rational they acknowledged there is irrationality that drives innovation. Animal spirits in Keynes' case and the entrepreneur's spirit in Schumpeter's. But, they stopped there and slid back to homus economus thinking. I agree not tolerating waste stops innovation. Though what is curious to me is in many companies how much bad waste there is, of good innovations (programs, concepts, incubators, acquisitions, green shoots, etc) that should proceed but don't due to irrational rationality. I'm making a different point, but it is an area I'm researching on the psychodynamic that get in the way of companies spending billions, with the right capabilities, doing the right things but not realizing their full innovation potential. This happens at Amazon too, BTW, they are just much better at balancing to good waste. If you're interested in my research you can learn more here and sign up to my newsletter along the way https://www.brettmacfarlane.com/research
Hello, I like how you frame Schumpeterian waste. One thing he and Keynes had in common is that while rational they acknowledged there is irrationality that drives innovation. Animal spirits in Keynes' case and the entrepreneur's spirit in Schumpeter's. But, they stopped there and slid back to homus economus thinking. I agree not tolerating waste stops innovation. Though what is curious to me is in many companies how much bad waste there is, of good innovations (programs, concepts, incubators, acquisitions, green shoots, etc) that should proceed but don't due to irrational rationality. I'm making a different point, but it is an area I'm researching on the psychodynamic that get in the way of companies spending billions, with the right capabilities, doing the right things but not realizing their full innovation potential. This happens at Amazon too, BTW, they are just much better at balancing to good waste. If you're interested in my research you can learn more here and sign up to my newsletter along the way https://www.brettmacfarlane.com/research
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