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.

  • 16646_6.29_000001423466XSmall

    Moneyball Economics

    Sep 27, 11 • 1042 Views • No Comments

    A wonderful baseball movie, Moneyball is also about economics. The story focuses on the Oakland Athletics, a second-tier baseball team with a small budget. A speedy runner? A homerun hitter? The stars cost many millions that Oakland just did not have. Faced......  [read more]

  • 16640_9.26_000015270816XSmall

    Tweet Rights

    Sep 26, 11 • 308 Views • No Comments

    Does “Nutcracker Tweet” bird seed have the right to Tweet? Is it okay to name your birdhouse firm “Tweet Tweet Home?”  Can your app say Tweet? It all depends on the US Patent and Trademark Office. Twitter wants the tweet......  [read more]

  • 16609_3.1_000005787159XSmall

    Healthcare and Baumol’s Disease

    Sep 11, 11 • 387 Views • 1 Comment

    Asked why healthcare is relatively expensive while cell phones are not, you could answer, “Baumol’s Disease.” Described by New Yorker columnist James Surowiecki, to play Mozart’s String Quartet in G minor in 1787 and now, we need 2......  [read more]

  • 16607_9.10_000005262499XSmall-1

    What’s Cheap? What’s Expensive?

    Sep 10, 11 • 319 Views • 5 Comments

    Starting with, “…eating and clothing ourselves is getting easier all the time,” an Atlantic article discusses “cheap” and “expensive.” Relatively cheap: computers media toasters, washing machines, other manufactured......  [read more]

  • 16602_2.14_000007210772XSmall

    Environmental Dilemmas

    Sep 8, 11 • 385 Views • 1 Comment

    The environment or employment? Smart meters: Environmentally superior, they automatically transmit data about electricity usage. As a result, we can better manage our demand for energy. The tradeoff? Even including smart meter R & D, IT services,......  [read more]