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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    A Line Primer

    Dec 10, 11 • 436 Views • No Comments

    Done with grocery shopping, you scan the registers and select the shortest line. Standing there for 2 minutes, your time flies. Another minute? Okay. But then, according to research, when the time hits 4 minutes, you believe you have been there for 6 and 5......  [read more]

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    Do You Care If You’ve Got Mail?

    Dec 5, 11 • 413 Views • No Comments

    In Canada, when postal workers went on strike because of wage cut proposals, many people were saying, “Who Cares?” In the U.S., Hallmark and Amazon have said that they do care about the future of the Postal Service. If asked, approximately 650,000......  [read more]

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    Why Can’t the U.S. Postal Service Think Outside the Box?

    Dec 5, 11 • 433 Views • No Comments

    Do you wear a Yankee hat or a college sweatshirt? Our society approves of adopting a superior team or attending an elite college. According to NY Times journalist David Brooks, for sports and schools, we can aspire to the top. In addition, inequality is okay......  [read more]

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    Jell-O, Gillette, and the Kindle Fire

    Dec 4, 11 • 394 Views • No Comments

    At first no one wanted to buy Jell-O. The year was 1902, the product was jiggly, and people had no idea how to serve it. Then, its producers went door-to-door with free cookbooks. And the rest of the story is history. By contrast, from the start, King......  [read more]

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    The First Credit Default Swap

    Nov 28, 11 • 714 Views • No Comments

    Some of the euro zone’s problems actually started with the Exxon Valdez oil spill. After the 1989 Exxon Valdez calamity, when an Alaska jury said that Exxon owed $5 billion in damages, they asked J.P. Morgan for a $4.8 billion line of credit. Concerned......  [read more]