A distinct process of financial innovation arose in the 1980's.

But the move appears likely to reinforce Google's reputation for financial innovation.

Fortune magazine called it "the most important financial innovation in years".

The United States is also where most important financial innovations of recent years have occurred.

Some people have argued that this dilemma is a false one, because financial innovation doesn't really do any good.

But another cost has been the damage done to the whole notion of financial innovation.

Holding a patent for a financial innovation does not mean that it will be supported in a legal fight.

What do the Goldman hearings tell us about the risks of financial "innovations"?

It is by no means clear that the process of financial innovation has run its course.

Another financial innovation in 1986 was the opening of China's first stock exchanges since 1949.