Modern understanding of innovation: from origins to the present

The subject of the study is the category of "innovation". The purpose of the study is to clarify the economic interpretation of the category of "innovation". The objectives of the study are to study the diversity and evolution of definitions of innovation. Novelty of the study: the author's interpretation of the concept of innovation as an economic category is proposed. Conclusions: to date, economic theory lacks a clear definition of the concept of "innovation" and its conceptual apparatus. Usually, innovation is identified with the concepts of "innovation activity", "innovation process", "innovation policy" or as a quotient from the category of "investments". This approach is one-sided, since innovation is an independent category. The scientific literature presents many interpretations of this category. Given the above, it is necessary to clarify the economic essence of the concept of innovation.