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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    Surprising Biofuels

    Nov 10, 11 • 405 Views • No Comments

    McDonald’s used fryer grease? Alaska Air might want it. On 75 commercial flights, they will partially fill their tanks with biofuels that contain used cooking oil. Selecting algae for its biofuel blend, United flew from Houston to Chicago on its......  [read more]

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    “Tweakers”

    Nov 9, 11 • 454 Views • No Comments

    Referring to Steve Jobs, most of us think of innovation and entrepreneurship. Like Thomas Friedman in “(Steve) Jobs, Jobs, Jobs, Jobs,” we imagine business starters and young Thomas Edisons. Instead, in the New Yorker, Malcolm Gladwell tells us......  [read more]

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    The Future of Oil

    Nov 8, 11 • 395 Views • No Comments

    When will we run out of oil? A room full of pistachios might have the answer. In the first several pages of The Invisible Heart: An Economic Romance, a teacher says you have been given a room filled 5 feet high with pistachio nuts. The nuts are free, you are......  [read more]

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    Frozen Jeans

    Nov 4, 11 • 499 Views • No Comments

    Being a responsible citizen of the earth might mean freezing your jeans. According to Levi’s, one pair of jeans, from its inception in the cotton field to its demise in the recycling bin, uses over 900 gallons of water. To reduce the climate change......  [read more]

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    Does Luck Matter?

    Oct 31, 11 • 383 Views • No Comments

    In Las Vegas, the 2010 World Series of Poker was composed of 32,000 players and 57 separate tournaments. For the final event, $9 million was at stake. Freakonomics economist Steve Levitt and U. of Chicago law professor Thomas Miles studied the poker world......  [read more]