101 lecture 18
TRANSCRIPT
Next Exam
Exam 3Tuesday December 16
Chapters 12-18
Microeconomics Lecture 18
Wealth Creation
Innovation
WageLevel
Quantityof Labor
WageLevel
Quantityof Labor
WageLevel
Quantityof Labor
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
SchoolTeachers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
SchoolTeachers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
SchoolTeachers
$36 million135 million SAR
WageLevel
Quantityof Labor
ProfessionalSoccerPlayers
SchoolTeachers
$36 million135 million SAR
1800 2014 Change
Population one billion seven billion 7x
Life Expectancy 26 years 71 years 45 +
GDP Per Capita Per Day $3 $30 10 x
ideas
ideas
inventions
ideas
inventions
ideas
inventions
innovations
ideas
inventions
innovations
ideas
inventions
innovations
3% becomeinnovations
Idea
Idea
Idea Invention
Idea InventionInventor
Idea InventionInventor
Steve Wozinac
Idea InventionInventor
Steve Wozinac
Idea Invention InnovationInventor
Steve Wozinac
Idea Invention InnovationInventor Entrepreneur
Steve Wozinac
Idea Invention InnovationInventor Entrepreneur
Steve Wozinac
Steve Jobs
Ideas - Inventions - Innovations
Ideas - Inventions - Innovations
Everyone has ideas
More people equal more ideas
Inventor
Inventor
turns an idea into reality
Entrepreneur
Entrepreneur
turns an invention into successful product
Capitalism isn’t about competition.
Capitalism is about innovation
Entrepreneur
Culture
Entrepreneur
Human
Culture
Entrepreneur
Physical
Human
Culture
Entrepreneur
Financial Physical
Human
Culture
Entrepreneur
Intellectual
Financial Physical
Human
Culture
Entrepreneur
Intellectual
Financial Physical
Human
Culture
Entrepreneur
trust knowledge skills personality health relationships
Intellectual
Financial Physical
Human
Culture
Entrepreneur
trust knowledge skills personality health relationships
natural resources time buildings equipmentthings than make things
Intellectual
Financial Physical
Human
Culture
Entrepreneur
trust knowledge skills personality health relationships
natural resources time buildings equipmentthings than make things
money and risksavers and borrowers time is money
(1+r)n
insurance limited liability corporations
Intellectual
Financial Physical
Human
Culture
Entrepreneur
trust knowledge skills personality health relationships
natural resources time buildings equipmentthings than make things
money and risksavers and borrowers time is money
(1+r)n
insurance limited liability corporations
ideas technologymethods
Five Ages
Five Ages
Hunter - GatherAgricultureIndustrial
InformationMobile
Dr. GaleNeighborhood
Idaho USA1877
Dr. GaleNeighborhood
Hunter-Gatherer AgeMuscle PowerStrongest Won
Idaho USA1877
Dr. GaleNeighborhood
Agricultural AgeAnimal Strength
Industrial AgeWaterWindSteam
Oil
Information Age
StoreProcessTransmitNetwork
Information Age
StoreProcessTransmitNetwork
WiredTelephonesComputers
Information Age
Internet • Network • Fixed Points
The Four Information Age Laws
The Four Information Age Laws
MooreSegateGilder
Metcalfe
Moore’s Law
Moore’s Law
computer power doubles every 18
months
Segate's Law
Segate's Law
storage doubles every 12 months
Gilder’s Law
Gilder’s Law
bandwidth doubles every 6 months
Metcalfe’s Law
Metcalfe’s Law
networks value =
number of members squared
Information Age Laws
Information Age LawsNine Years
2023
Computers 64 xStorage 512 x
Bandwidth 262,144 x7 billion internet users
Mobile Age
Wireless Networks
Mobile Age
Wireless Networks
Mobile Age
Wireless Networks
Mobile Age
Five Ages
HunterGatherer
Five Ages
HunterGatherer Agricultural
Five Ages
HunterGatherer Agricultural Industrial
Five Ages
HunterGatherer Agricultural Industrial Information
Five Ages
HunterGatherer Agricultural Industrial Information
Five Ages
Mobile
Technology
Technology
How we make things
Technology
How we make things
Leverage Intelligence
Technology
How we make things
Leverage Intelligence
Making things smarter
Technology
How we make things
Leverage Intelligence
Making things smarter
Smarter way to make
Five Ages
Five Ages
More EnergyAtoms always existed
Way we organize atomsHarness energy
Apply intelligence
Future Ages
Future Ages
Making things smarter and smarter
More bits per atom
Cancer Test
Cancer Test
3 cents - 5 minutes168 x faster
26,667 less expensive400 x more sensitive
Cancer Test
Cancer Test
3 cents - 5 minutes$800 - 14 hours
400 x more sensitive
1. What are the three I’s ?2. What are the five capitals?3. What are the five economic ages?4. What are the four laws of the information age?