Continuing today, the Netflix effect began in 1997 when it began the creative destruction that eliminated some companies and produced others.…
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 To Make Kids Smarter
Fifty years ago, when Sesame Street was a new educational idea, it proved that watching TV could make our kids smarter academically and emotionally.…
Astronomically Different Prices for an Apollo 11 Videotape
Sold twice at auctions, the two prices of the Apollo 11 videotapes were astronomically different because of changes in demand and supply.…
Will We Get a Space Force or a Space Corps?
In addition to disagreeing about the name of a new U.S. Space Force, lawmakers have a long list of military, bureaucratic, and fiscal decisions.…
Why We Want Sneakers Made From Coffee
Whether it relates to coffee grounds or new clothing patterns, zero waste design can optimize economic efficiency in surprising ways.…
When Cars Have To Decide Whether to Kill Grandma
Like people, autonomous vehicles will have moral dilemmas that require ethical decision-making but it could be tough deciding what is ethical.…
How To Get Speedier Fast Food
Hoping to increase its drive-thru speed, McDonald’s has begun to use voice recognition technology to compete against other fast food chains.…
How Legos Discovered It’s Not Easy to be Green
If we want our Legos to match, attach, and detach, we might have to wait awhile for them to develop the appropriate bio-based plastic.…
What a Tax, a Ship, and a Road Can Tell You
Somewhat invisible, time determines whether central bankers and legislators have the accurate statistics that they need for economic policy.…
Why Mapping Apps Create the Prisoner’s Dilemma
The success of a decision to use Waze, Google Maps, and other mapping apps to avoid traffic can depend on outsmarting the prisoner’s dilemma.…