The paper aims at exploring the philosophical and pedagogical foundations of modernity, as well as to figure out the innovations as an attribute of modernity. Modernity in philosophy refers to the fundamental modification of pre-modern political philosophy of the concept of innovations. Modernity, however, in philosophy and pedagogy refers to the move from feudal social order to the capitalistic one under the grand project of industrialization, secularization and rationalization. Modernity, from its commencement, possesses two innate characteristics: one is epistemological or conjectural which is the actual philosophy, and another one is ontological or applied. The article reveals the contents of the main theoretical approaches to understanding the essence of innovation from the point of view of philosophical and pedagogical discourse. Differences in the understanding of innovation in the context of different philosophical, economical and pedagogical discourses are identified. The purpose of this article is to provide a historical philosophical and pedagogical perspective on theories of innovation, and a sense of their broad range. Tracing the history of the discourses of scholars, practitioners and policy-makers, and exploring how and why innovation became defined by J. Schumpeter. Five types of innovations are distinguished by the author. Also, it is stressed that the concept of "innovation" as a new scientific and organizational combination of scientific factors is motivated by entrepreneurial aspirations. Therefore, it is stated that societal and political transformations perpetually cause tension in educational systems, this is the locus of a seemingly endless struggle. The debate repeatedly merges philosophical, epistemological and pedagogical issues. In this article a theoretical framework of the innovations concept, relational trust and risk-taking is evoked to examine implementation of this aspect in the learning environments. The research reported in this article provides an analysis of pedagogical, instructional and learning innovative discourses drawn from the point of view of philosophical and pedagogical literature.