Schumpeter was surely not wrong to point to intellect and will as essential to entrepreneurial innovation. But he was a good enough student of capitalism, socialism, and democracy to know that humbling the ambitious makes markets. No one will come away from reading these books believing that confidence is more important than humility in innovation success. However, everyone will come away recognizing that quality of character matters even more than the quality of the idea.
Michael Schrage (email@example.com), formerly codirector of the MIT Media Lab’s e-Markets Initiative, is currently a senior advisor to the MIT Security Studies Program. He writes frequently on innovation topics for strategy+business and is the author of Serious Play (Harvard Business School Press, 1999).