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 Regulation

    Dec 2, 10 • 207 Views • No Comments

    Is more innovation the opportunity cost of more regulation? If so, which do you prefer? To see one person’s opinion, I recommend a recent Washington Post op-ed, “Strangling innovation and job creation with red tape.” The Washington Post...  [read more]

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    Flying Snakes and Economic Growth

    Nov 24, 10 • 287 Views • No Comments

    Sometimes the federal government spends a tax payer’s money in unexpected ways. According to the Washington Post, scientists funded by the Department of Defense are studying snakes that can fly. Slightly venomous, sort of air-slithering, these Southeast...  [read more]

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    Growth Stories

    Nov 20, 10 • 222 Views • 1 Comment

    Height is about more than how tall you are. When affluence grows, so too do people. Why? Height seems to correspond to economic growth.  Connecting height and economic growth, a wonderful New Yorker article from 2004 tells us that Americans grew taller...  [read more]

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    Demand, Supply, and Knee Replacement

    Nov 15, 10 • 271 Views • No Comments

    Hearing about knee replacement surgery from a friend, I soon realized it is about much more than an operation. It involves demand, supply, innovation, and the quality and cost of national medical care. First the facts: For knee replacement surgery, patients...  [read more]

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    Cotton and Crocodiles

    Nov 9, 10 • 206 Views • No Comments

    A Malaysian proverb tells us, “Don’t think there are no crocodiles because the water is calm.” Looking at cotton markets, perhaps we should remember the crocodiles. According to The Wall Street Journal, cotton prices are soaring. Speaking as...  [read more]