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.

  • 16304_6.16_000006078784XSmall

    Your Budget Proposal

    Apr 12, 11 • 214 Views • No Comments

    Several months ago, the NY Times published an interactive budget exercise. The goal was for each of us to decide how we would deal with a skyrocketing deficit. Now, with President Obama scheduled to present a major speech on his budget proposals, you might...  [read more]

  • 16292_4.6_000008906947XSmall

    PC Benefits

    Apr 6, 11 • 279 Views • No Comments

    We know that the computer has really made a difference. It replaced typewriters, photo albums, calculators and maybe even travel agents. But still, can we precisely state its impact? Yes, $1700. Economists have calculated that each year since 1977, on...  [read more]

  • 16276_6.9_000012771533XSmall

    The Amazing Washing Machine

    Mar 28, 11 • 251 Views • No Comments

    In one wonderful 9 minute TED talk, Swedish professor Hans Rosling connects the washing machine to empowering women, educating children and diminishing world poverty. The Economic Lesson When women are empowered, not only is the gender gap diminished but also...  [read more]

  • 16250_3.16_000007427834XSmall

    Selling Karma (With a Solar Roof)

    Mar 16, 11 • 226 Views • No Comments

    The Fisker Karma car has 2 electric motors, 1 Lithium-ion battery, and 1 internal combustion engine. Depending on the model, you can have a solar panel roof, do 0-60 mph in less than 6 seconds and reach a top speed beyond 125 mph. How?...  [read more]

  • 16242_11.19_000005031630XSmall

    More Education Matters

    Mar 12, 11 • 229 Views • No Comments

    15-year old U.S. students ranked #24 for math in an OECD assessment program (PISA). For reading, they placed #15. In a Teaching Company lecture called “Underperforming Schools” Wake Forest economist Robert Whaples suggests how we might raise our...  [read more]