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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    Creatively Destroying Pontiac

    Nov 7, 10 • 257 Views • No Comments

    At some point, sooner or later, people get tired of black. During the 1920s, Henry Ford realized that the Model T, so very practical and affordable because it only came in black, needed some vitality. What forced him to recognize that the Model T was becoming...  [read more]

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    Why Was Malthus a Reverend?

    Nov 1, 10 • 217 Views • No Comments

    Have you ever wondered why Malthus was a reverend? The surprising answer is in Bill Bryson’s wonderful new book, At Home A Short History of Private Life (which I just started reading). 18th and 19th century rectors and vicars tended to be affluent and...  [read more]

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    Banana Machines

    Oct 30, 10 • 237 Views • No Comments

    It is tough to design a vending machine that will handle a banana gently. The temperature needs to be 57 degrees, a 4 foot fall to the consumer should be gentle, and they have to remain ripe for as long as possible. It gets even trickier when celery, which...  [read more]

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    Dogs, Coach, and Cars

    Oct 28, 10 • 230 Views • No Comments

    When you have extra income, what do you buy? In China, the more affluent consumer is buying dogs, Coach handbags, and cars. Banned in Beijing in 1983, only recently, the dog has returned as a new “best friend.” A stress reliever, a response to...  [read more]

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    Some Like It Hot?

    Oct 23, 10 • 210 Views • No Comments

    A warmer Detroit? A wetter New York? In the future world that UCLA professor Matthew Kahn describes, cities will adapt to climate change. Assuming that warming is gradual, populations will migrate and innovate. If San Diego becomes less habitable, people will...  [read more]