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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    Happy 100th Birthday IBM!

    Jun 16, 11 • 456 Views • No Comments

    Imagine the challenge of implementing the first Social Security system in 1937. 27 million employees and their employers had to be taxed. The basic idea was to collect the money and then redistribute it to current retirees. So everyone got an ID number....  [read more]

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    Iowa and New Hampshire

    Jun 8, 11 • 323 Views • No Comments

    Knowing that ethanol subsidies drive up the price of corn and might even harm the economy, presidential candidates tend to support them. Why? Iowa. Which early voting states receive more federal dollars after a primary election? Probably not New Hampshire....  [read more]

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    The Crawler

    Jun 1, 11 • 334 Views • No Comments

    The fuel economy window sticker for this vehicle would say 1 gallon per 32 feet. Called the crawler, it travels on a roadway 3.5 miles long, could carry 18 million pounds, and moves no faster than 2 mph. The crawler takes the space shuttle to its launchpad....  [read more]

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    Old and Young States

    May 31, 11 • 349 Views • No Comments

    Maine is an old state. At 42.7, the median age of Maine’s population is the highest in the U.S. The youngest state is Utah (large families and many children), with a median age of 29.2. Other “young states” include Texas and Alaska. And,...  [read more]

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    Apple vs. Amazon in the Fight Over Gaga

    May 27, 11 • 328 Views • No Comments

    From a guest blogger, Frances Bird, AP econ student: Lady Gaga, America’s current pop queen sensation, is being used to boost Amazon sales, if not permanently, then temporarily. Amazon is using Lady Gaga’s recent album, Born This Way, to compete...  [read more]