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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    Paying Kids For Good Grades

    Dec 24, 11 • 545 Views • No Comments

    What happens when you combine a $100 student payment with a teacher bonus for high A.P. grades, better lab equipment, free tutoring, Saturday classes and extra teacher training? At one Boston school, the results for an A.P. statistics class were: A surge in......  [read more]

  • Everyday economics and Shake Shack

    Fast (and Slow) Food

    Dec 23, 11 • 588 Views • No Comments

    Wendy’s is about to pull ahead of Burger King in the U.S. The reason? People care about their lettuce and the shape of their burgers. Led by new ownership, Wendy’s now has 11 different greens (not just iceberg), a slightly rounded bun......  [read more]

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    What Can An N-Gram Tell Us?

    Dec 20, 11 • 494 Views • No Comments

    For laughing and learning this TED talk is wonderful.  Having digitized 15 million books, Google enabled us to access a mammoth body of knowledge. However, just reading the entries from the year 2000, without eating or sleeping, absorbing 200 words a......  [read more]

  • Affecting the cost of animal feed and lowering the amount of milk from cows, the drought is pushing up milk prices.

    A Happy Story From Greece

    Dec 18, 11 • 453 Views • No Comments

    Greece is helping to solve the unemployment problem in upstate New York. When you see a small white container of Fage Greek yogurt (pronounced fa-yeh), instead try to picture a 220,000 square foot U.S. production facility, close to......  [read more]

  • The History of the Elevator is About Innovation and Economic Growth

    Profit Matters

    Dec 15, 11 • 497 Views • No Comments

    During the bubble, investors gave $188 million, Geocities was purchased for 3.57 billion, and introduced us to sock puppet. None exist today. is an excellent documentary about the rise and......  [read more]