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.

The Impact of Financial Innovation

We could say that two events in 1973 changed financial markets. The CBOE (Chicago Board Options Exchange) starts trading. The Black-Scholes Model for pricing options (most simply the right to buy or s…

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