Yes, it really is a generally good thing for all humans. Everyone responds generally positively for being recognized for whatever their contributions are. Even if the ideas aren't particularly amazing, there's something pretty powerful in general human interactions that happens when you make a point of noting people's ideas, and making correct attribution. This may be somewhat of a learned skill. In practical terms, it's as easy as a summation of ideas thrown out--e.g., "Bob has suggested we take a better look at X. Sue's thinking we ought to consider Y."

Some time later, when another person offers up an idea, there's a different relational outcome between saying, "Oh, nice idea, John"--while Sue is thinking, That's an awfully lot like my idea from a couple weeks ago--and saying, "Oh, hey, that sounds a lot like Sue's idea from a couple weeks ago, but with a little twist." Sue's going to respond positively because you're acknowledging her idea. John's going to respond positively because you're doing the same for her. Now both of them may be encouraged to work together on it.

There's also a funny thing about us humans in that the same ideas and thoughts can hit us differently at different times. Making a point of tracking (mentally or otherwise) people's contributions to an organization isn't something that is likely to ever be a bad idea.

I honestly try to do this all the time, but mostly for those who are less vocal, the quiet ones. I tend to be on the other end of the spectrum, so if I never shut up at least I'm throwing someone else a bone in the process.