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Innovation in cosmetics - can anything new still be invented?

Innovations in cosmetics

When talking about innovation, it is worth starting by defining the term. In common parlance, it is often used to refer to a new product. However, according to the definition of one of the world's greatest economists, Joseph A. Schumpeter, it is a much broader concept. He developed a model in the middle of the 20th century where the innovation in question represents a certain basic phenomenon that is responsible for economic development. He explained [...].

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