He is distinguishing between invention, the thinking up of or creation of a spiffy new thing, and innovation, the general adoption in the wider economy of that new spiffiness to do interesting things.
FORBES: Why Health Care Will Just Keep Getting More Expensive
2.
We can do the basic research either way: we want the market as that is what gets the new drugs, the new treatments, the new spiffiness, into the hands of people who use it to do interesting and useful things.
FORBES: Why Health Care Will Just Keep Getting More Expensive