Matt Ridley on How Innovation Works

What's the difference between invention and innovation? Is innovation--making the invention available--the hard part? Matt Ridley talks about his book How Innovation Works with host Russ Roberts. He argues that we give too much credit to inventors and not enough to innovators, who refine and improve an invention to make it valuable to users. Along the way, he emphasizes the power of trial and error and the importance of permissionless innovation.