P: Good morning, Economist.
E: Good morning, Photographer.
P: How does the new enter the world, Economist?
E: By letting people do things and allowing their work results to reach them.
P: What do you mean by that?
E: Only those who get the benefits of successful actions, for example, in the form of high incomes, will strive for new things. The reverse also applies: Anyone who ruins a company must be liable for the damage. The whole thing is about addressing responsibilities. But there is a second prerequisite for new things to be developed and implemented.
P: I am still listening.
E: Competition. It's of little use if you have ideas for new types of bread, but you can't become a baker because you need a master's certificate, and the association of existing bakers doesn't award new master's certificates to protect themselves from competition.
P: Competition plus responsibility as prerequisites for innovation and, thus, for growth and prosperity in a society. I understand, Mr. Lecturer.
E: You asked.
< silence >
E: There is this new business model of delivery services. Instead of going to the grocery store, you can have your groceries delivered to your home. Have you heard of it?
P: It’s not that new, Economist.
E: The thing is, these delivery services compete with stationery stores. If the brick-and-mortar stores could have prevented the delivery service, they certainly would have done so. Look at this photo: The owner of the corner shop on my street is probably unhappy about the advertising of the delivery company Flink in front of his shop.
P: Is delivery service really progress? Isn't it better to shop in-store? You can see the whole range there. And you have the opportunity for social contacts.
E: Obviously, many customers see it differently. The market for delivery services has grown rapidly in recent years. And this is also part of your question about how new things enter the world: it is decided by markets. Inventions have to pay off.
P: Sometimes, you're too much of an economist, Economist, at least to me.
E: What would you prefer?
P: Nothing. It's ok. Have a nice day!
E: You too, Photographer.
……..🚶🏼♂️…🚶🏻
Why do Strolling Economist and Accidental Photographer take daily walks? Check out here for more. – By the way, sometimes they go their own ways, the economist here, the photographer there.