Looking at William Nordhaus’s study of lighting history, we can see how increasingly cheaper illumination boosted our living standards.…
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 New Food Technology That Could Change What We Eat
Whether about cows or chicken nuggets, sometimes seemingly insignificant new food technology can have an unexpectedly massive impact.…
Pink It, Shrink It, and Gender Design Discrimination
For years, women have needed sweaters, jackets, even snuggies at work. The reason takes us to some solid science…for men. Our story starts with a 154 pound man in a business suit. Decades ago, t…
How Southwest Helps Science
The low airfares and pleasant flying culture at Southwest Airlines have had an unexpected impact on the quality of scientific research.…
How To Preserve Our Nutella Supply
Hoping to expand the Nutella supply chain with new producers of hazelnuts in Canada and even New Jersey, Ferrero is supporting hybrid seed research.…
What Money Should Look Like
Using color, size and content, better banknote currency design would make our dollar bills more functional and meaningful.…
Deciding Who Gets Medical Help During Disasters
Remembering Hurricane Katrina and the decisions one isolated medical staff had to make for patients, a group in Maryland has recommended triage tradeoffs.…
Why Urban Farmers Plant Their Crops in Garages
Using old containers from cargo ships, commercial urban farmers are growing hydroponic mini-lettuces and even strawberries in warehouses and garages.…
Why Driving is Safer in Sweden
An economist might say that the optimal number of traffic fatalities depends on the cost of preventing them. Sweden disagrees. Compared to most other countries, Sweden’s road safety is tops: In …
A Surprising Way to Cut Healthcare Costs
Assume for a moment you are in a doctor’s office observing an examination. A 70-year old male patient enters pulling an oxygen tank and wearing a baseball cap. Because the doctor has been seeing…