slacker9876 I have always been a believer in that competition produces innovation said:
Competition generally produces lower prices. Innovation is a complex phenomena that involves corporate vision, corporate research labs and startup's creating new markets (rather then competition in existing markets).
OH, WELL ALLOW ME TO RETORT!
You feel the point is worth arguing why? If you look at the word
innovation it is quite plain that you are complicating the situation. Examining the definition and usage of the word; when companies are competing, innovation is a natural progression. This is only expounded by the fact that America as a whole is materialistic and we all know that deep down inside we all want better products than our neighbor has.
So like I said before, competition produces innovation.