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.

  • Vintage staircase

    Changing Homes

    Jun 26, 12 • 578 Views • No Comments

    Economically, stairs are costly. When people fall, they stay home from work. Their medical bills climb. Your odds? Author Bill Bryson, in At Home, states that we will probably trip on stairs once in every 2,222 times that we use them, experience a painful......  [read more]

  • Our Transportation Infrastructure is Crumbling

    Lowering the Cost of Commuting

    Jun 14, 12 • 524 Views • No Comments

    Which alternative would you select to lessen rush hour traffic on NYC’s 5th Avenue? Charging $10 for each block Having the chance to win a $10,000 lottery prize if you take the bus A Stanford professor is encouraging cities like Singapore to use the......  [read more]

  • bacteria_000016005749XSmall

    When is Research Inaccurate?

    Jun 13, 12 • 703 Views • No Comments

    Frequently, it is tough to challenge respected researchers. Our story starts with a June 28, 2010 econlife post: In 1910, as a 22 year old Russian immigrant, Dr. Selman A. Waksman arrived in Philadelphia. Through the education he accessed, the mentors who......  [read more]

  • eye chart_000016156136XSmall

    What If More People Wore Eyeglasses?

    Jun 10, 12 • 626 Views • No Comments

    We could say that eyeglasses are like bookends when they relate to economic growth. Our story starts during the 13th century. Before the spread of eyeglasses, the work life of skilled craftsmen usually ended when they could no longer see close objects......  [read more]

  • Peanut prices respond to demand and supply

    How is Peanut Butter an Economic Indicator?

    Jun 5, 12 • 1846 Views • No Comments

    The head of the Cleveland Fed cares about peanut butter sales. According to the WSJ, Sandra Pianalto, president of the Federal Reserve Bank of Cleveland, “likes to grill” the vice chairman of her board, jam CEO Richard Smucker, about peanut......  [read more]