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Facilitated by financial innovation, consumers responded to crimped wages by monetizing their assets in forms of debt such as home-equity loans.
This suggests that the new economy may feature more monopolies than the old, but that few of them will harm consumers; on the contrary, if this dynamic encourages innovation, consumers can benefit.
But regardless of outcome, the key enabler is the ability to experiment with what innovation consumers want, and to do so on a predictably level playing field.
The company, however, isn't just using apps and social media to entertain an adult audience, but to teach younger people, some of most active innovation consumers, about the so-called archaic artform.
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But AOL worries that if Microsoft succeeds in dominating these crucial new layers of Internet software -- as it dominates the vital operating system layer on the PC -- innovation, consumer choice and, of course, companies like AOL will suffer.
It is obvious that businesses are tapping into social media, since they find them as a rich source of information and a business execution platform for product design and innovation, consumer and stakeholder relations management, and marketing.
Heins launched a new generation of BlackBerry phones in January, but the innovation left consumers cold.
"This is only going to drive innovation for consumers, which is a good thing," said Cyriac Roeding, who is in charge of mobile content efforts at CBS.
Ofcom's 2010 decision that Sky must offer premium sports channels to other providers was designed to deliver choice and innovation to consumers through greater competition".
So the question becomes: Has innovation for consumers been matched by innovation for investors?
We are excited to be working with our new partners Telefónica, SingTel and Mozilla, who are driving innovation for consumers".
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