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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    Just Desserts

    May 27, 12 • 653 Views • No Comments

    Our story begins in 1920 with some ice cream, some chocolate and a stick. A candy maker decided to coat the ice cream with the chocolate, insert the stick and freeze it. Patenting the stick idea, he created the first ice cream bar and called it a Good Humor......  [read more]

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    A Better Ketchup Bottle?

    May 25, 12 • 673 Views • No Comments

    In a 1964 TV commercial, during a pouring contest between 2 young boys, Heinz ketchup was “…too thick and rich to run.” In another ad, Heinz lost an OK Coral duel because it was the “slowest ketchup in the west…east, north and......  [read more]

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    Steel Twins

    May 23, 12 • 629 Views • No Comments

    What happens when a parent of twins makes them compete? And what if the better twin is told that he has to remain ahead of his slower sibling? For twin steel factories, one in Burns Harbor, Indiana and the other in Gent, Belgium, the result is more......  [read more]

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    You’ve Got Mail?

    May 19, 12 • 841 Views • No Comments

    During dinner this evening, my friend said that she loves her local post office. A very small branch in a teeny building, they know her name, her needs, and are a neighborhood institution. But, is it worth $1 billion a month? During the first 3 months of......  [read more]

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    Sweden, Ikea and Taxes

    May 18, 12 • 1064 Views • No Comments

    Our story starts when Ikea’s founder, Ingvar Kamprad, left Sweden during the 1970s. It ends with Sweden’s current finance minister saying that taxes were the reason. Associated with a more humane form of capitalism, Sweden was the prototype for......  [read more]