Innovation during a Recession

My apologies for the long silence. The last few months have been quite busy with life, work and school. I'm glad to be back to my blog, and hope to continue updating it regularly.

I recently posted a comment on an online discussion regarding Innovation during a Recession. The question that was posed to the group was whether innovation is dead during a recession. The answers came from professionals in a variety of fields, so I decided to bring in the perspective of an Industrial Designer. Luckily, I had also watched a presentation by Bill Buxton, Principal Researcher at Microsoft Corporation, on this very subject a few days before.

 

As we know, the current recession is often compared to the Great Depression of the 1930's. Well, the 1930's were not only an era of recession and pessimism, but also an era of great innovation and creativity.

 

For a start, the Bauhaus - that famous German school that influenced global developments in art, architecture, graphic, interior and industrial design through the 20th century - remained open until 1933, when it was shut down by the Nazi party. Its leaders moved to Britain and the USA, where they continued working for the next five decades. Amongst them was Lazlo Moholy-Nagy, who founded the New Bauhaus in Chicago in 1937. Today this school is known as the Institute of Design, one of America's most notorious human-centered design schools.

Kodak Eastman introduced the world to many influential products in the 1930's. Amongst them were the first 8 mm amateur motion-picture film, cameras and projectors in 1932; and the first slide projector in 1937, just to name a couple.

 

Even the car industry was able to innovate during the hard times. Ford Motor Company introduced the Ford Victoria (later renamed Crown Victoria) in 1932, only a year after having stopped production of the Model A due to the difficult economic times.

 

Finally, one of today's most renowned innovators was doing its part during this era. General Electric introduces innovations in both products and services in the 1930's. This company introduced the World to electric washers in 1929 and to moldable plastics in 1930. And in response to the tough economic times, the GE Credit Corporation is founded in 1932 to help American families finance the purchase of electrical appliances. Back then credit was meant to create value and help consumers achieve the American dream. Unfortunately, credit took a wrong turn and it turned into a tool to generate wealth – not value – for a few bankers regardless of the effects to general consumers.

 

The list goes on and on, but I hope this small sample illustrates the human capacity for innovation in hard times when we set our mind to it. If these examples make you feel better, then take a deep breath, wipe off the long face, and embrace innovation!