econlife on ‘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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    A Bow Tie Patent

    Sep 5, 10 • 177 Views • Businesses, Innovation, RegulationNo Comments

    Having said that jackets and dresses cannot be patented or copyrighted, I was fascinated to learn that a bow tie once had one. During the 1950s, the clothing retailer Brooks Brothers had patented their bow tie technology. A recent WSJ article referred to the

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    Netflix and Buggy Whips

    Aug 14, 10 • 204 Views • Businesses, Economic Thinkers, Innovation, Tech1 Comment

    After reading this NY Times article about Netflix, you might begin to think about buggy whips. I know it sounds distant but here is the connection. Entrepreneurs make an existing product or process obsolete. Netflix and Blockbuster. Amazon and Barnes &

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    Start-up stories

    Aug 10, 10 • 184 Views • Businesses, Economic History, Innovation, LaborNo Comments

    During 1939, in a garage, Bill Hewlett and Dave Packard started a new firm. Also in a garage, several decades later Steve Wozniak and Steve Jobs started Apple. Yes, Walt Disney worked in his uncle’s garage and Mattel, the toy company that makes Barbie

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    Success

    Aug 3, 10 • 183 Views • Innovation, Labor, Thinking EconomicallyNo Comments

    In a  wonderful NYC Radio Lab podcast about success, Malcolm Gladwell also explains why genius is closely related to love. Recorded at the  92nd Street Y in NYC, writer Malcolm Gladwell and Radio Lab host Robert Shulwich preceded their

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    Idea Incubators and Economic Growth

    Jun 28, 10 • 170 Views • Businesses, Economic History, Innovation, Macroeconomic MeasurementNo Comments

    It is so tempting to assume that we get the best results when we tell people what to do. If we want to use less oil, then pass laws that encourage us to invent better batteries. Yes? Using Selman Waksman as an example, retired Harvard professor David S.