#TBT: With General Electric leaving the Dow Industrial Average, today is a perfect time to look back at Charles Dow, Eddie Jones, and the Dow that GE joined in 1896.…
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.
How Starbucks Coffee Bean Husks Are Like Perdue Chicken Paws
When previously worthless byproducts like coffee bean husks, chicken paws, and hog snouts became popular, we increased our economic efficiency.…
Why We Needed to Retake the Marshmallow Test
After doing their own version of the marshmallow test, researchers from NYU and UC Irvine told us to look at the value of delayed gratification somewhat differently.…
When a Tesla Price Tells Us All We Need To Know
Just by looking at a $35,000 Tesla price, we can decide if Elon Musk is creating luxury vehicles or cars for the masses.…
Deciding If Your Digital Assistant Is Unethical
Creating a long list of ethical dilemmas, Google’s Duplex is a digital assistant that sounds just like a human when scheduling appointments.…
The Women We Never Knew About
Because of the NY Times Overlooked project, Emily Roebling’s long delayed obituary displays how she helped to build the Brooklyn Bridge.…
Why Guinea Pigs and Party Dresses Are Similar
Whether looking at guinea pigs or party dresses, you get rental markets when time and money make people avoid a purchase.…
How a Caviar Sandwich Is Like a Model T Ford
Sometimes low cost production can make goods as different as a caviar sandwich and a Model T Ford more similar than we might expect.…
The Biggest U.S. Postal Service Problem
With postal service innovation a basic problem, the U.S. Postal System is ranked lower than France, Japan, Poland, and nine other countries.…
The Mystery of the Disappearing Credit Card Signature
Soon, the credit card signature will be extinct and so too will another transaction “cost” that made spending money a little more difficult.…