INNOVATIONS AND CONSUMPTION VERSUS RAISING THE QUALITY OF LIFE OF SOCIETY

The article analyses innovation and consumption as growth factors that are conducive to raising the quality of life of society. Factors taken into consideration include the source, factors and effects of innovation. They show consumption as the original source of innovation and a potential long-term driving force of economic development and social progress. I make an attempt to answer the following questions: whether the development of innovation and changes in consumption resulting from it are factors which lead to the raising of the quality of life in society or not, and if not - what conditions should be fulfilled. I also raise the question of further modifications of development - development which serves to increase the quality of society's life. And in order to achieve this to increase the investments in human and social capital as well as make other significant changes of a cultural nature.