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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    Learning From the Low End

    May 16, 12 • 585 Views • No Comments

    Sometimes it’s better to be at the bottom than the top. Explaining, Harvard’s Clay Christensen starts his story with the huge integrated steel firms and ends with the mini mill. Relatively cheaply, the mini mills melted scrap in electric furnaces......  [read more]

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    Low Costs and Big Benefits for Spirit Airlines

    May 13, 12 • 1010 Views • No Comments

    Spirit Airlines is doing everything it can to charge us less for a seat on one of its planes. One gentleman paid $77 for a round trip seat between Chicago and Fort Lauderdale. Just the seat. How much more could he have paid? You might want to try matching......  [read more]

  • The Midnight Ride of Paul Revere

    How Government Helped and Helps Paul Revere

    May 12, 12 • 541 Views • No Comments

    The year was 1800 when a 65 year old, Paul Revere said, “I have engaged to build me a Mill for Rolling Copper into sheets which for me is a great undertaking, and will require every farthing which I can rake or scrape.” Paul Revere had been a......  [read more]

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    JPMorgan Chase and Financial Innovation

    May 11, 12 • 790 Views • No Comments

    In Boca Raton, Florida, during the early 1990s, a group of JP Morgan bankers gathered for an “offsite” weekend. Have some fun, get some sun, do some brainstorming. They had hoped to create a new product. And they did. Their new product involved......  [read more]

  • 1st Apple Macintosh Computer

    A Macintosh with a Byte

    May 10, 12 • 728 Views • 2 Comments

    Did you ever wonder who created the trash can icon on your computer? It came from a designer working on the first Macintosh. The year was 1981. No one really knew what a computer should look like and what it should do. Steve Jobs told the team developing the......  [read more]