innovation

saving-energy-and-money-concept-idea-for-save-or-investment-444918927-stockpack-adobestock
saving energy and money concept. idea for save or investment. businessman holding lightbulb beside piggy bank and coins stacking on desk with note book.
Image Credit: Looker_Studio - Adobe Stock

The Virtues of the “Knowledge Theory of Value”

Kevin Hoover suggests that William Nordhaus relied on the labor theory of value in his paper on light (Letters, April 24). Yet Nordhaus actually used knowledge, not labor. He offered a method to measure innovation: the discovery and sharing of valuable new knowledge. Nordhaus measured the amount of knowledge per unit of time and observed that knowledge about light was growing exponentially, surpassing traditional measures of economic development. It is the time price over time that truly deserves our attention. Read More ›
Superabundance

Superabundance Day

Discovery Institute Senior Fellow Gale Pooley's new book "Superabundance" is officially released today. It tells the story of population growth, innovation, and human flourishing on an infinitely bountiful planet. Read More ›
Elon Musk
U.S. AIR FORCE ACADEMY, Colo. -- Tesla Inc. Chief Executive Officer Elon Musk speaks with Lt. Gen. Richard Clark, Superintendent of the U.S. Air Force Academy, during the Ira C. Eaker Distinguished Speaker Presentation in the Academy's Arnold Hall on April 7, 2022 in Colorado Springs, Colo. (U.S. Air Force photo by Trevor cokley)

Elon Musk Gets an A in Econ. Janet Yellen Gets a D-

Elon Musk and Julian Simon are right. Janet Yellen and Thanos are wrong. More human beings create much more wealth for all of us to enjoy, if given the freedom to innovate by learning and discovering new valuable knowledge to share in free markets. Invest in people. We pay the highest dividends. Read More ›
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Hot fried bacon pieces in a cast iron skillet.top view
Hot fried bacon pieces in a cast iron skillet.top view

Bacon Innovation

Without human innovation, instead of $3.68 a pound, bacon would cost $39.66. or 978 percent more. The next time you have bacon for breakfast, take a moment to smell the innovation. Read More ›