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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    You’ve Got Mail?

    Mar 3, 12 • 620 Views • No Comments

    While the U.S. had postal services since the 1600s, Ben Franklin transformed the system. Appointed Deputy Postmaster for the Colonies by the British, he established our first home mail delivery system, diminished to a single day the letter delivery time......  [read more]

  • Friction Free Clicks

    Feb 26, 12 • 525 Views • No Comments

    Which friction minimizing invention received a patent in 1999? Amazon 1-Click. Described by Amazon in their application for patent 5,960,411, the purchaser just hits a button that activates the movement of payment information from “the client......  [read more]

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    High and Low Energy Markets

    Feb 6, 12 • 420 Views • No Comments

    Let’s rewind to 2008 for a moment. At $13 per thousand cubic feet, the price of natural gas was soaring. Close to $91 a barrel, the price of oil was exceeding recent highs. Selling for more than $200 per kilogram, even the price of the silicon used to......  [read more]

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    Chinese Oreos

    Feb 5, 12 • 760 Views • No Comments

    Everybody in the U.S. knows that eating an Oreo is an experience. You split open the cookie, slowly swallow the filling, and then submerge its chocolate remains in your milk. At Kraft they call it, “Twist. Lick. Dunk.” When the Oreo team brought......  [read more]

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    Amazonian eWarfare

    Jan 31, 12 • 533 Views • No Comments

    By Mira Korber, guest blogger. The Amazon rainforest may be shrinking, but certainly isn’t. The superpower “e-tailer” has all but taken over, and it’s selling just about anything, but threatens one industry just......  [read more]