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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    Plane Train Competition

    Aug 16, 12 • 557 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]

  • The Surprising Glass Ceiling in Sweden and France

    A Female Friendly (Industrial) City?

    Aug 16, 12 • 770 Views • No Comments

    Sometimes it is tough to make your economy more productive. In Saudi Arabia, just one woman at the office means you have to have a thick barrier separating her from everyone else. She needs her own entrance, her own bathroom, and a security guard to be sure......  [read more]

  • Packaging can shape a buying decision.

    When Did We Become Shoppers?

    Aug 12, 12 • 6272 Views • No Comments

    Who would have thought that the elevator helped us become shoppers! In Made in America, Bill Bryson tells us that the safety elevator enabled stores to expand upward. And having multiple floors meant we could have department stores. We have to travel back to......  [read more]

  • Industries afflicted with Baumol's Disease have slower productivity growth.

    Cheesecake Medicine?

    Aug 7, 12 • 584 Views • No Comments

    Could Cheesecake Factory help us fix our healthcare system? Touring the kitchen of a Cheesecake Factory restaurant, you would see arrival, refrigeration and storage areas, and cutting, mixing, chopping and combining zones. Preparing the 308 dinner choices......  [read more]

  • A Traditional Telephone Book

    What Can You Learn From the Phone Book?

    Aug 5, 12 • 665 Views • No Comments

    Among all of the innovations that changed our lives, have you ever thought about the phone book? The first phone book dates back to 1878. Compiled by the the District Telephone Company of New Haven, soon to become SNET, the Southern New England Telephone......  [read more]