Innovation

Innovation is a source of economic growth. Including the impact of new technology and the incentives that stimulate creativity, innovation is important for a market system. Depending on current events, econlife considers the impact and source of past and present innovation that includes the industrial revolution, the transportation revolution, the information revolution and people like Steve Jobs and Andrew Carnegie who made it possible.

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    Selling Karma (With a Solar Roof)

    Mar 16, 11 • 212 Views • No Comments

    The Fisker Karma car has 2 electric motors, 1 Lithium-ion battery, and 1 internal combustion engine. Depending on the model, you can have a solar panel roof, do 0-60 mph in less than 6 seconds and reach a top speed beyond 125 mph. How?...  [read more]

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    More Education Matters

    Mar 12, 11 • 215 Views • No Comments

    15-year old U.S. students ranked #24 for math in an OECD assessment program (PISA). For reading, they placed #15. In a Teaching Company lecture called “Underperforming Schools” Wake Forest economist Robert Whaples suggests how we might raise our...  [read more]

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    Innovative Challenges

    Feb 25, 11 • 222 Views • No Comments

    Is it likely that, with each new discovery, innovation gets tougher? It might have been easier to identify an asteroid a century ago because the undiscovered ones were very big. It might have been simpler to find a new human organ; the last one, the...  [read more]

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    Good and Bad Capitalism

    Feb 22, 11 • 301 Views • No Comments

    If you are trying to figure out the economics of the Middle East, I recommend starting with Good Capitalism, Bad Capitalism. One of the book’s 4 different kinds of capitalism, oligarchic capitalism, provides a good “slot” for grouping most...  [read more]

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    Watson Wins

    Feb 18, 11 • 265 Views • No Comments

    Playing against Jeopardy champs Ken Jennings and Brad Rutter, Watson, the IBM computer won. Imagine three podiums. One is labeled Ken, the middle one Watson, and the third one, Brad. IBM assured everyone that Watson had no internet access and all three...  [read more]