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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    PC Benefits

    Apr 6, 11 • 322 Views • No Comments

    We know that the computer has really made a difference. It replaced typewriters, photo albums, calculators and maybe even travel agents. But still, can we precisely state its impact? Yes, $1700. Economists have calculated that each year since 1977, on...  [read more]

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    The Amazing Washing Machine

    Mar 28, 11 • 287 Views • No Comments

    In one wonderful 9 minute TED talk, Swedish professor Hans Rosling connects the washing machine to empowering women, educating children and diminishing world poverty. The Economic Lesson When women are empowered, not only is the gender gap diminished but also...  [read more]

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    Selling Karma (With a Solar Roof)

    Mar 16, 11 • 260 Views • No Comments

    The Fisker Karma car has 2 electric motors, 1 Lithium-ion battery, and 1 internal combustion engine. Depending on the model, you can have a solar panel roof, do 0-60 mph in less than 6 seconds and reach a top speed beyond 125 mph. How?...  [read more]

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    More Education Matters

    Mar 12, 11 • 269 Views • No Comments

    15-year old U.S. students ranked #24 for math in an OECD assessment program (PISA). For reading, they placed #15. In a Teaching Company lecture called “Underperforming Schools” Wake Forest economist Robert Whaples suggests how we might raise our...  [read more]

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    Innovative Challenges

    Feb 25, 11 • 282 Views • No Comments

    Is it likely that, with each new discovery, innovation gets tougher? It might have been easier to identify an asteroid a century ago because the undiscovered ones were very big. It might have been simpler to find a new human organ; the last one, the...  [read more]