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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    The Future of Oil

    Nov 8, 11 • 416 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]

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    Frozen Jeans

    Nov 4, 11 • 523 Views • No Comments

    Being a responsible citizen of the earth might mean freezing your jeans. According to Levi’s, one pair of jeans, from its inception in the cotton field to its demise in the recycling bin, uses over 900 gallons of water. To reduce the climate change......  [read more]

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    Does Luck Matter?

    Oct 31, 11 • 406 Views • No Comments

    In Las Vegas, the 2010 World Series of Poker was composed of 32,000 players and 57 separate tournaments. For the final event, $9 million was at stake. Freakonomics economist Steve Levitt and U. of Chicago law professor Thomas Miles studied the poker world......  [read more]

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    Euro Deal Primer

    Oct 28, 11 • 484 Views • No Comments

    To understand euro zone bailout plans, just think BBB. Bonds, Banks, Bailout The Bonds: If you own Greek debt, then you would be asked to accept a 50% haircut. That means you will get new Greek bonds worth half the old ones. The catch? It’s voluntary. A......  [read more]

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    Innovation and (Steve) Jobs

    Oct 27, 11 • 650 Views • No Comments

    From the iPhone and iPod to a…thermostat? At a Silicone Valley start-up, a former Apple design leader has switched his focus to diminishing carbon emissions, decreasing electric bills, and moderating energy usage. He has changed from iPhones and iPods......  [read more]