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.

  • 16758_7.19_000006524235XSmall

    Stagnation or Education?

    Nov 19, 11 • 419 Views • No Comments

    Is the problem stagnation or education? For George Mason economist Tyler Cowen, it was all about his grandmother. Debating MIT economist Erik Brynjolfsson, Cowen reminded us that a long list of innovations including cars, antibiotics and refrigerators......  [read more]

  • 16748_robot.11.15.11_000017936450XSmall

    Sounds Like Bell Labs

    Nov 15, 11 • 459 Views • No Comments

    Google has a “secret” lab. Called Google X by the NY Times, it sounds like the old Bell Labs. Before 1984, when AT&T was a monopoly, their research subsidiary Bell Labs employed a battalion of scientists. For some, the assignment was just to......  [read more]

  • 16734_oliveoil11.10.11_000017303961XSmall

    Surprising Biofuels

    Nov 10, 11 • 422 Views • No Comments

    McDonald’s used fryer grease? Alaska Air might want it. On 75 commercial flights, they will partially fill their tanks with biofuels that contain used cooking oil. Selecting algae for its biofuel blend, United flew from Houston to Chicago on its......  [read more]

  • 16732_5.4a_000002321349XSmall

    “Tweakers”

    Nov 9, 11 • 478 Views • No Comments

    Referring to Steve Jobs, most of us think of innovation and entrepreneurship. Like Thomas Friedman in “(Steve) Jobs, Jobs, Jobs, Jobs,” we imagine business starters and young Thomas Edisons. Instead, in the New Yorker, Malcolm Gladwell tells us......  [read more]

  • 16730_12.26_000004511800XSmall

    The Future of Oil

    Nov 8, 11 • 410 Views • No Comments

    When will we run out of oil? A room full of pistachios might have the answer. In the first several pages of The Invisible Heart: An Economic Romance, a teacher says you have been given a room filled 5 feet high with pistachio nuts. The nuts are free, you are......  [read more]