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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    Innovation and Jobs

    Oct 26, 11 • 2955 Views • No Comments

    Just say, “More productivity, R & D and economies of scale,” and you are talking about large firms. New Yorker financial columnist James Surowiecki reminds us that too often we glorify small businesses and forget how A&P, Walmart and their......  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Babies and the Elderly

    Oct 24, 11 • 469 Views • No Comments

    The beginning of life and the end of life are becoming more expensive. The number of premature babies in the U.S. has soared by 36% during the past 25 years. Caused partially by twins, triplets, (and more) from older mothers and by advances in......  [read more]

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    Millionaire Inventors

    Oct 21, 11 • 440 Views • No Comments

    Assume you have $1.4 million dollars that you want to give away. Your goal is to spur the development of new technology, but just not any innovation–something that you want people to invent. Which technology would you choose? The people at the X Prize......  [read more]

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    The Blackberry Disruption

    Oct 18, 11 • 316 Views • No Comments

    Last week’s Blackberry blackout saved lives. In Dubai, traffic accidents dipped 20%. For Abu Dhabi, the decrease was 40%. Considering that there is approximately 1 traffic accident every 3 minutes in Dubai and a traffic fatality every 2 days in Abu......  [read more]

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    Another Amazing Entrepreneur

    Oct 17, 11 • 427 Views • No Comments

    From this WSJ description of Jeff Bezos, you can tell he is an amazing entrepreneur. The article is wonderful. Here are some of the facts: Named Cadabra until someone accidentally called it “cadaver,” Amazon was launched in Seattle on July 16,......  [read more]