We can all remember the car from Back to the Future: the time traveling car with the trash compactor engine. Just add trash, and the engine would start to function. Well, Doc’s car is now somewhat of a reality - the engine rather than the time travel. The technology allowing cars to run on what [...]
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Imitate or Die (The Economist)
This article doesn’t specifically talk about pure monopoly, but it offers a very interesting perspective on patents and reviews the concept of opportunity costs. The current phenomenon in China and India is that the technological aspect of these two economies is pretty much piggyback riding the innovations of other more developed [...]
It looks like iTunes’ era of monopoly could be coming to an end.
Amazon Digital Music Store Goes Online
The iPod is the King of mp3 players in this generation, and where do iPod owners buy their music? That’s right, iTunes. Most of us are familiar with the online music store that’s available to not only [...]
In class, we have discussed the determinants of supply which can be summed up by the acronym of STORES. Here’s an interesting article that talks about the market of 3-D printers.
CNN Money: 3-D printing for the rest of us
Ten years ago, a 3-D prnting machine would cost $120,000 or more and were usually bought [...]
Nowadays robots are often in various industries used to increase output. Blue Chip, a manufacturing shop in Columbus has employed the use of robots to increase their productive efficiency:
CNN Money.com: Need more workers? Try a robot…
“Blue Chip grosses about $5 million a year machining spare parts for the U.S. military. “I always thought robots were [...]
