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 Cashless Payoff

    Dec 14, 11 • 580 Views • No Comments

    Paying with a phone swipe makes Starbucks lines move faster. Less time in line means more productivity and society benefits. So, should we accelerate our movement toward a cashless society? Imagine having no currency. No wallets necessary? A useless U.S.......  [read more]

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    A Line Primer

    Dec 10, 11 • 452 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 • 430 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 • 442 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 • 406 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]