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

    1. 1. ECO 310International Economics
    2. 2. Syllabus
    3. 3. Globalization
    4. 4. Global Device
    5. 5. Global Device
    6. 6. Global Device
    7. 7. 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
    8. 8. Ideasoccur in minds not places
    9. 9. Hockey StickTrends
    10. 10. Angus Maddison
    11. 11. Angus Maddison 1AD
    12. 12. Angus Maddison 1 2012AD
    13. 13. $100 Angus Maddison 1 2012 AD
    14. 14. $100Income PerPerson Angus Maddison Per Day 1 2012 AD
    15. 15. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    16. 16. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    17. 17. $100Income PerPerson Angus Maddison Per Day $3 1 2012 AD
    18. 18. $100Income PerPerson Angus Maddison Per Day “The Millennium–Poor Until 1820” $3 1 1820 2012 AD
    19. 19. $100Income PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
    20. 20. $100 Northern Europe North AmericaIncome 33x PerPerson Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
    21. 21. Innovation TradeSpecialization
    22. 22. Innovation TradeSpecialization Freedom
    23. 23. Humans
    24. 24. IdeasHumans
    25. 25. Inventors IdeasHumans
    26. 26. Inventions Inventors IdeasHumans
    27. 27. Entrepreneurs Inventions Inventors IdeasHumans
    28. 28. Innovations Entrepreneurs Inventions Inventors IdeasHumans
    29. 29. Innovations Entrepreneurs Inventions Inventors IdeasHumans
    30. 30. Innovations Entrepreneurs Inventions Inventors IdeasHumans
    31. 31. Tradeoffs Mileage SafetyA 2001 National Academy of Sciences study estimated that the trafficdeath toll attributable to past downsizing was approximately 2,000 livesper year.
    32. 32. Science
    33. 33. Science Hard Soft
    34. 34. Most peopleMost of the time
    35. 35. Most peopleMost of the time Economics is a Soft Science
    36. 36. PriceCostValue
    37. 37. Price Cost ValueMay not be the same
    38. 38. Economic Models
    39. 39. Economic ModelsSimplified Version of Reality
    40. 40. Economic ModelsSimplified Version of Reality Value in Prediction
    41. 41. Incentives Matter
    42. 42. Incentives Matter Change Incentives Change Behavior
    43. 43. Incentives aremore important than goals
    44. 44. Consequencesmatter more than intentions
    45. 45. UnintendedConsequences
    46. 46. What is Wealth?
    47. 47. What is Wealth?What People Want
    48. 48. Get wealthy by makingothers happy

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