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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    Apple’s Patents

    Jan 20, 11 • 324 Views • No Comments

    An ibike? A solar-powered iPhone? Or maybe an iKey?  During 2010, Apple received 563 patents. In addition to the iBike, a solar-powered iPhone, and an iKey, Apple’s patents included a wand remote and a touchscreen iMac. When asked about...  [read more]

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    Random Technology Notes

    Jan 13, 11 • 245 Views • No Comments

    In 1810, Nicholas Appert, a cook and bottler, inserted some food in a Champagne bottle, sealed it, and placed it in boiling water. Described by James Burke in Circles: Fifty Roundtrips Through History, Technology, Science, Culture, a French newspaper said...  [read more]

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    Mothers and Human Capital

    Jan 10, 11 • 240 Views • No Comments

    In The Wall Street Journal, a Chinese mother discusses her rules for her children which include: 1) only A’s, 2) no play dates, 3) no parts in school plays, 4) no TV,  5) no sleepovers, 6) play the piano or violin for several hours daily....  [read more]

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    Doomster or Boomster?

    Jan 6, 11 • 1194 Views • No Comments

    Agree or disagree? “Both the jayhawk and the man eat chickens, but the more jayhawks, the fewer chickens, while the more men, the more chickens.” The quote is from 19th century economist Henry George but it relates to a report from the FAO (Food...  [read more]

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    Auto Innovation

    Jan 5, 11 • 250 Views • No Comments

    Saying, “I believe the people who invented the auto cannot abandon it,” President Obama supported the bailout of General Motors. Economist Joseph Schumpeter would have been horrified. The man who explained “creative destruction,”...  [read more]