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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    Who Needs a License?

    Feb 9, 11 • 252 Views • No Comments

    What does a hair salon “shampoo specialist” have in common with a private detective? In certain states, each needs a license to do business. But what might licensing involve? For a Texas shampooer, it includes 150 hours of classes while a...  [read more]

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    What’s Cooking?

    Feb 4, 11 • 206 Views • No Comments

    The kitchen that my mother used 50 years ago is really not that different from the one we use today. Electricity, a mechanical refrigerator, and hot and cold running water have been here for a long time. But 60 years before that, the kitchen was a very...  [read more]

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    Grandma and the City

    Jan 31, 11 • 219 Views • No Comments

    In the U.S. 81% of us live in a city. Saying that cities generate more wealth, productivity and innovation, Brookings’ Research Director Alan Berube and Harvard’s Edward Glaeser applaud urbanization. In China, though, Grandma might not be so...  [read more]

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    Hot Spotting Medical Care

    Jan 28, 11 • 217 Views • No Comments

    These are the statistics: 900 people; 4,000 hospital visits; $200 million in medical bills from January 2002 through June 2008. The place is Camden, N.J. where a relatively small number of people were responsible for a huge proportion of the city’s...  [read more]

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    Greener Money

    Jan 22, 11 • 253 Views • No Comments

    Hearing that Canada was switching to plastic money this year, I imagined…plastic. It turns out that plastic money looks and feels pretty much like the cotton-based paper currency we now use.  Why make the change? Money was one reason. Although it...  [read more]