310 lecture 2
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The document discusses topics related to international economics including globalization, trends in global income, and factors that influence economic growth such as innovation, trade, specialization, and incentives. It notes that Angus Maddison's research shows world income per person increased 10-fold and Northern European and North American income increased 33-fold between 1820 and 2012.
310 lecture 2
- 2. Syllabus
- 7. ARM Holdings Wolfson Marvel Skyworks U.S. CSR Linear Technologies U.K. NXP National 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. Ideas occur in minds not places
- 10. Angus Maddison
- 12. Angus Maddison 1 2012 AD
- 13. $100 Angus Maddison 1 2012 AD
- 14. $100 Income Per Person Angus Maddison Per Day 1 2012 AD
- 15. $100 Income Per Person Angus Maddison Per Day $3 1 2012 AD
- 16. $100 Income Per Person Angus Maddison Per Day $3 1 2012 AD
- 17. $100 Income Per Person Angus Maddison Per Day $3 1 2012 AD
- 18. $100 Income Per Person Angus Maddison Per Day “The Millennium–Poor Until 1820” $3 1 1820 2012 AD
- 19. $100 Income Per Person Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
- 20. $100 Northern Europe North America Income 33x Per Person Angus Maddison Per Day $30 “The Millennium–Poor Until 1820” World 10x $3 1 1820 2012 AD
- 21. Innovation Trade Specialization
- 22. Innovation Trade Specialization Freedom
- 23. Humans
- 24. Ideas Humans
- 25. Inventors Ideas Humans
- 26. Inventions Inventors Ideas Humans
- 27. Entrepreneurs Inventions Inventors Ideas Humans
- 28. Innovations Entrepreneurs Inventions Inventors Ideas Humans
- 29. Innovations Entrepreneurs Inventions Inventors Ideas Humans
- 30. Innovations Entrepreneurs Inventions Inventors Ideas Humans
- 31. Tradeoffs Mileage Safety A 2001 National Academy of Sciences study estimated that the traffic death toll attributable to past downsizing was approximately 2,000 lives per year.
- 33. Science
- 35. Most people Most of the time
- 36. Most people Most of the time Economics is a Soft Science
- 38. Price Cost Value
- 39. Price Cost Value May not be the same
- 40. Economic Models
- 41. Economic Models Simplified Version of Reality
- 42. Economic Models Simplified Version of Reality Value in Prediction
- 44. Incentives Matter Change Incentives Change Behavior
- 45. Incentives are more important than goals
- 47. Consequences matter more than intentions
- 49. What is Wealth?
- 50. What is Wealth? What People Want
- 51. Get wealthy by making others happy
Editor's Notes
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- #7: In the previous lesson we were talking about the iPhone as a great innovation.\nBut what is “Innovation”?\n
- #8: In is not true because places don’t design things, people design things. Ideas occur in minds not in places.\n\n
- #9: Welcome to OneMinuteEcon. In this lesson we want to talk about ideas, inventions, and innovations.\n
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- #27: 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
- #28: 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
- #29: 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
- #30: 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
- #31: 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
- #32: 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
- #33: 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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