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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    Time Matters

    Aug 25, 11 • 387 Views • 1 Comment

    Faster people tend to live in wealthier nations. According to psychologist Robert Levine, cultures with faster walkers probably have more people, a cooler climate, a “vital economy” and they value individualism. Measuring “tempo” in 31......  [read more]

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    Speedy Airplane Boarding

    Aug 23, 11 • 464 Views • 1 Comment

    Closely connected to an airline’s bottom line, speedy boarding means more efficiency. Here you can see the following alternative boarding strategies in action. Front to back: Least popular. Early boarders block those who follow them. Back to Front Very......  [read more]

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    Song Rights

    Aug 20, 11 • 430 Views • No Comments

    When do we own what we create? It depends. For Bruce Springsteen and Billy Joel, hit albums controlled by record companies might soon become theirs again. During the mid-1970s, the Congress decided that after 35 years, a musician could regain the copyright......  [read more]

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    Patent Troll Protection

    Aug 17, 11 • 436 Views • No Comments

    We spray “OFF!” for insect protection, divers use shark repellent, and now, Google has purchased Motorola to resist patent trolls. Described in an NPR This American Life podcast, patent trolls purchase multiple patents with the intent of suing any......  [read more]

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    Taxing Decisions

    Aug 16, 11 • 362 Views • No Comments

    According to The Atlantic’s Megan McArdle, all of us should know about the Fallacy of Chesterton’s Fence before we decide how we feel about taxes. Picture a fence extending across a road. 2 people approach it. The first says, “I don’t......  [read more]