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.

  • World War II industrial mobilization

    Winning World War II With Numbers

    Sep 2, 12 • 824 Views • No Comments

    The year was 1940. Seeing that war might be imminent, President Roosevelt approached the president of General Motors. Wartime conversion was the issue. To become an “arsenal of democracy,” how could we produce planes instead of Pontiacs? With......  [read more]

  • A Slice of a Pineapple

    Food Bites

    Aug 30, 12 • 1393 Views • No Comments

    Sometimes food is about a lot more than eating. When a !Kung Bushman hunter returns from the forest, he is greeted with, “What, you made us come all this way for this bag of bones?” One Bushman explained why. “When a young man kills much......  [read more]

  • economic video humor

    Movie Economics

    Aug 25, 12 • 1677 Views • No Comments

    Having just seen and enjoyed Bernie, “a low-budget ‘labor of love'” with Jack Black and Shirley MacLaine, I started thinking about the economics of the movie business. It is tough to predict whether a movie will be a success. Everyone said......  [read more]

  • Start Download

    Did Radiohead Change the Music Industry?

    Aug 19, 12 • 1973 Views • No Comments

    “The fact of the matter is that popular music is one of the industries of the country. It’s all completely tied up with capitalism. It’s stupid to separate it.”                                                     ......  [read more]

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    Plane Train Competition

    Aug 16, 12 • 539 Views • No Comments

    Should government subsidize a railroad? Our story starts during the 1970s when you could fly from New York to Washington, D.C. on the Eastern shuttle. Eastern left hourly (!) and guaranteed a seat to everyone who showed up for the flight. Imagine, coffee cup......  [read more]