INNOVATION AS A DRIVER FOR ECONOMIC EXPANSION
INNOVATION AS A DRIVER FOR ECONOMIC EXPANSION: DIGITAL PHOTOGRAPHY, AS AN EXAMPLE I. INTRODUCTION AND OVERVIEW Innovation is called upon as a driver for economic expansion in a free market. ... Innovation is, from consumers’ perspectives, a form of efficiency as it provides them with products that are capable of providing greater benefits at the same or lower cost than previous similar products. In the case of the photography industry, innovation is the main driver for expansion. ... Eastman saw the potential market expansion opportunities and through innovations introduced the Brownie camera in 1900 for $1. The Eastman Kodak company had laid the foundation for its success: innovation. ... These figures are very alarming when compared to any other economic measure of that period. ... Sales continued to climb during the economic boom of the late 1990’s, peaking at 20 million units in 2000, but had dropped to 14 million units by 2002. ... Economic factors surely had an impact on this trend, as consumers cut spending on common picture-taking activities such as vacations, particularly in the aftermath of the Sept. ... Here is the first example of economic growth due to innovations in digital photography. ... The current popularity and growth of digital photography has not been the result of a single innovation in technology, in and of itself. ... The effects of innovation on economic growth are more apparent in these new and expanded markets rather than just photography, or even more discreetly, digital photography. ... Although independent test results are not yet out, digital photography enthusiasts have estimated that this camera will equal and possibly exceed the resolution capabilities of 35 mm film at any print size The innovations in CMOS sensors were the major critical innovation necessary for the growth in digital photography. However, for this innovation to occur, there had to be innovations in the equipment that produces these sensors. ... Again, it is clear that innovations in memory technology were a key part of the overall expansion of digital photography. Another area of innovation for digital photography has been in the miniaturization of LCD displays. ... One final area of innovation for digital photography has been in printing technology.