Paul Romer explains his New Growth Theory in an interview and uses the example of coffee cup lids.
“There are huge numbers of little recipes that all add up to create wealth. To illustrate that point, I use the example of coffee shops in the
Ideas, not physical assets are the new coin of the realm. Ideas create wealth and they do so in a non rival fashion, Only one person can eat a piece of bread, however and infinite number can make bread from the original recipe. Restaurateur’s need to view their ideas and not so much their output as their true contribution. The idea of the single lid has minimized storage and increased efficiency in coffee shops. What other ideas can be integrated in the restaurant every day?