11 | Transaction Cost and Progress
Leaps in human prosperity often stem from innovations that lower transaction cost.
Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.
In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.
In 1962, Gordon Segal — with his wife Carole — opened a scrappy Chicago shop called Crate & Barrel. That store turned into a housewares empire that has shaped the way Americans furnish their homes.
In this Economics Made Easy video, we talk about the history from where we started to where we are today, because of the economic boom of wealth in our modern society.
It’s a stick with bristles poking out of it. It doesn’t even qualify as a simple machine, but the careful thought and design that went into the creation of the modern, angled bristle, fat handled toothbrush shows just how much brainpower goes into something that is designed to simply work well and not be noticed all that much (until it’s time to buy the next one).
Entrepreneurs are both problem solvers and wealth creators. Extremely successful entrepreneurs, therefore, are not evil. Rather, they are modern day heroes.
Today on the show, we learn about one man in Ecuador who came up with an answer to the global cocoa shortage
Entrepreneur is an American magazine and website that carries news stories about entrepreneurship
Entrepreneurship is important for a number of reasons, from promoting social change to driving innovation.
It can often be difficult to come up with new ideas when you're trying to develop or improve a product or service. This is where creative brainstorming techniques like SCAMPER can help
It can often be difficult to come up with new ideas when you're trying to develop or improve a product or service.
This is where creative brainstorming techniques like SCAMPER can help. This tool helps you generate ideas for new products and services by encouraging you to think about how you could improve existing ones.
We'll look at SCAMPER in this article and infographic
Economists traditionally divide the factors of production into four categories: land, labor, capital, and entrepreneurship. Learn how each of these are defined in this video.
When we turn on our bedside lamp, we know that Edison the inventor had something to do with it. But what about Edison the entrepreneur?
What does innovation look like? Steve Jobs explains the difference between a good idea and a good product.
Steve Jobs: Product Development (From Idea to Product) Reference: Excerpt from Steve Jobs interview in 1995 with Robert Cringely, the interview is called "The Lost Interview"
Did you know it takes two types of leaders at the helm of a 10-250 person entrepreneurial organization to have the “Rocket Fuel” it needs to hit the next level? They’re known as the Visionary and the Integrator.
As a Visionary entrepreneur, your passion, drive and creativity are the key elements that helped launch your business and fuel your company’s growth. But now… your company is growing and you’re swamped with an overwhelming workload, your engine is sputtering, stalling and your momentum stagnating. Every great Visionary hits this threshold. Enter the Integrator. You need someone detail-oriented, who knows how to keep the team harmonious and productive, is great at resolving conflict, and can execute detailed plans for maximum results. That will give YOU the freedom to focus on what you were built to do-- blast off and catapult your company to its full potential.
The basic outline of world economic history is surprisingly simple. Indeed it can be summarized in one diagram: figure I.I
Designer Thomas Thwaites explains what compelled him to build a toaster, literally from the ground up.
I spent 6 months and $1500 to completely make a sandwich from scratch. Including growing my own vegetables, making my own salt from ocean water, milking a cow to make cheese, grinding my own flour from wheat, collecting my own honey, and killing a chicken myself.
Today on the show, we visit a company called Monoprice. And we go into a room where people sit all day and try to make stuff get cheaper.