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310 lecture 2
 

310 lecture 2

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  • In the previous lesson we were talking about the iPhone as a great innovation.\nBut what is “Innovation”?\n
  • In is not true because places don’t design things, people design things. Ideas occur in minds not in places.\n\n
  • Welcome to OneMinuteEcon. In this lesson we want to talk about ideas, inventions, and innovations.\n
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  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
  • Let’s go a bit deeper.\n\nThe world begins with ideas.\nSome ideas turn into inventions\nAnd some inventions become innovations.\n\nAll humans have ideas.\nInventors turn ideas into inventions\nEntrepreneurs turn inventions into innovations.\n\nLots of ideas never become inventions and lots of inventions never become innovations.\n\nWithout inventors no ideas would every become inventions,\nBut more importantly, without entrepreneurs no inventions would ever become innovations.\n\nAnd innovations are the key to raising our standard of living.\n\nApple has become the most valuable company on the planet because it knows how to do one thing very very well: Innovate.\n\n \n
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310 lecture 2 310 lecture 2 Presentation Transcript

  • ECO 310International Economics
  • Syllabus
  • Globalization
  • Global Device
  • Global Device
  • Global Device
  • ARM Holdings Wolfson Marvel Skyworks U.S. CSR Linear Technologies U.K. NXPNational Semiconductor Germany Sharp Korea Samsung Toshiba Japan Infineon Broadcom Taiwan Numonyx Micron China Dialog Semiconductor Texas Instruments STMicroelectronics Silicon Storage RF Microdevices Cirrus Logic
  • Ideasoccur in minds not places
  • Hockey StickTrends
  • Angus Maddison
  • Angus Maddison 1AD
  • Angus Maddison 1 2012AD
  • $100 Angus Maddison 1 2012 AD
  • $100Income PerPerson Angus Maddison Per Day 1 2012 AD
  • $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
  • $100Income PerPerson Angus Maddison Per Day “The Millennium–Poor Until 1820” $3 1 1820 2012 AD
  • $100Income PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
  • $100 Northern Europe North AmericaIncome 33x PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
  • Innovation TradeSpecialization
  • Innovation TradeSpecialization Freedom
  • Humans
  • IdeasHumans
  • Inventors IdeasHumans
  • Inventions Inventors IdeasHumans
  • Entrepreneurs Inventions Inventors IdeasHumans
  • Innovations Entrepreneurs Inventions Inventors IdeasHumans
  • Innovations Entrepreneurs Inventions Inventors IdeasHumans
  • Innovations Entrepreneurs Inventions Inventors IdeasHumans
  • Tradeoffs Mileage SafetyA 2001 National Academy of Sciences study estimated that the trafficdeath toll attributable to past downsizing was approximately 2,000 livesper year.
  • Science
  • Science Hard Soft
  • Most peopleMost of the time
  • Most peopleMost of the time Economics is a Soft Science
  • PriceCostValue
  • Price Cost ValueMay not be the same
  • Economic Models
  • Economic ModelsSimplified Version of Reality
  • Economic ModelsSimplified Version of Reality Value in Prediction
  • Incentives Matter
  • Incentives Matter Change Incentives Change Behavior
  • Incentives aremore important than goals
  • Consequencesmatter more than intentions
  • UnintendedConsequences
  • What is Wealth?
  • What is Wealth?What People Want
  • Get wealthy by makingothers happy