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Macro 9
- 2. Macroeconomics Lecture 9 Saving Investment & the Financial System Chapter 9
- 3. Questions?
- 5. Every generation has underestimated the potential for finding new ideas…Possibilities do not add up.They multiply A + B A x B AB
- 7. A candle loses nothing by lighting another candle - John Heller
- 9. Economics of Ideas Profits motivate Share without losing value Benefit but not pay Government encourage Larger market, more incentive
- 10. Why are apps so cheap? Large fixed cost Zero marginal cost Huge market
- 11. 1.2 billion $1 million $1 sell 2 million $2 million Profit $1 million
- 12. Research and Development $11.5 billion a year
- 14. Intellectual Financial Physical Human Culture Entrepreneur make more ideas? patents copyrights education dignity respect
- 15. Flying Shuttle Single most important invention launching the Industrial Revolution
- 16. John Kay Steve Jobs
- 17. Economics of Ideas Imitators drive innovators out of the market Patents 20 year monopoly
- 19. Incentives dignity property rights honest government political stability rule of law
- 20. Increase the number of ideas per hour? ideas for making it easier to create more ideas
- 22. Intellectual Financial Physical Human Culture Entrepreneur Stuff unorganized How we use our stuff The earth is full.. Organizing Intelligence Agency Creativity Likeness Value Bring Order to Chaos Making things smart to be agents D&C 104:17 intelligizing capitals