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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    Environmental Dilemmas

    Sep 8, 11 • 364 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]

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    Solar Panel Problems

    Sep 2, 11 • 329 Views • No Comments

    We could call it a double pay-off. Subsidized by stimulus spending, Solyndra could create jobs and develop “green” technology. But it did not work out that way. According to the Washington Post and the NY Times, solar panel maker Solyndra got a...  [read more]

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    On Time Again

    Aug 31, 11 • 376 Views • No Comments

    Have you ever thought about the difference that a clock makes? Described in The Geography of Time, a pre-clock world meant you could not say, “I will meet you at 12:30 for lunch” or “Your workday is 9-5.” By the 1820s, though,...  [read more]

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    “Tweetquakes”

    Aug 29, 11 • 357 Views • No Comments

    Sometimes Tweets travel faster than seismic waves. And then, what happens? In this wonderful webcomic from April 2010, an earthquake strikes, people Tweet, and within seconds, the news beats the temblor’s spread. Do people run for safety? No. They send...  [read more]

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    Steve Jobs and Joseph Schumpeter

    Aug 27, 11 • 652 Views • No Comments

    Henry Ford once said that consumers would have requested “a better horse” if he had asked them what to produce. Similarly, Steve Jobs told a reporter, “It’s not the consumers’ job to know what they want.” The result? For...  [read more]