TobaccoWalter Raleigh popularized tobacco, grown in the America’s, in England. He set sail in South America searching for El Dorado, the mythical city of gold. Raleigh never found the golden city but he did find tobacco, bringing it back to England. He committed a crime and was pardoned but, on a second journey in search … Continue reading "Tobacco"
Programmable Logic Controller (PLC)Programmable Logic Controller’s (PLC’s) are small single-purpose computers. They control machines and are common in cars. You probably own more PLC’s than any other type of computer. Today, a single-car has a myriad of PLC’s, usually networked together. PLC’s replace hard-coded wiring, automating tasks. PLC’s often read input from analog sensors. Responding to temperature, sensing … Continue reading "Programmable Logic Controller (PLC)"
Modern Management (Wedgwood)Modern management, marketing, and high-end sales to ordinary people make pottery company Wedgwood a management innovator. Pottery dates back to ancient times. Fragments of pottery in China date back 20,000 years. Since then, for the most part, wherever archeologists find people they also find pottery. Therefore, opening a pottery manufacturer, especially in the 1700s, intuitively … Continue reading "Modern Management (Wedgwood)"
Vaccines (Smallpox)Smallpox was a killer, affecting royalty and peasants alike. When it didn’t kill, it oftentimes left victims permanently maimed. Besides eventually eradicating smallpox, this vaccine led to the development of future ones. Background Jenner was born to a wealthy and well-educated family. Like many during his time, he was inoculated for smallpox, a process where … Continue reading "Vaccines (Smallpox)"
Cash RegisterCash registers help deter theft and led to modern bookkeeping. Ritty was a saloon owner who had problems with employee theft. He invented and patented the cash register, calling it the “Incorruptible Cashier” and created a company to sell it. There was little interest and he tired of simultaneously running two businesses, one manufacturing and … Continue reading "Cash Register"
Protease InhibitorsHistory They first called it gay men’s cancer. Then announced it affected intravenous drug users. People became skeptical when they added Haitians as a risk factor. Being gay, a drug user, or black was a death sentence? My openly gay high school English teacher became sick and quickly died in the middle of a semester. … Continue reading "Protease Inhibitors"
Milking MachineMilking machine safely and effectively milk cows. They vastly reduce the cost of milking a cow. Background Nobody likes milking cows by hand. It’s time consuming, laborious, and they poop. Early attempts at something better involved inserting catheters that would let the milk slide out. However, if not used perfectly these hurt the animal. Catheters … Continue reading "Milking Machine"
Supertall SkyscraperBuildings higher than 300 meters (984 ft.) are supertall skyscrapers. During the late 1920s there was an unofficial competition to see who could build the tallest building in New York City. Background In 1913, the Woolworth Building was the highest in New York City, at 792 feet. New York architects William Van Alen and Craig … Continue reading "Supertall Skyscraper"
Marine ChronometerThis device, an accurate clock that works on ships, allows sailors to much more accurately navigate. Before this innovation, sailors had to guess, and it was common for ships to miss their destination on a journey by hundreds of miles. This device reduced the risk and cost of long journeys by ship, lowering the cost … Continue reading "Marine Chronometer"
Steel Frame SkyscraperJenney left Harvard to study architecture at the prestigious École Centrale Paris, then the world’s most prominent architectural school. He graduated one year after Gustave Eiffel, builder of the Eiffel Tower. After time spent in the army, Jenney opened an architecture firm in Chicago. Urban legend is that while speaking to his wife, she set … Continue reading "Steel Frame Skyscraper"
American Pop CultureIn the roaring ’20s, after WWI, Americans were coming into their own, developing a culture that was distinctly not European but also no longer a country of rugged settlers. Background At 26, Walt Disney was on the train to success, literally. Riding from his upstart studio in Los Angeles to New York to finalize and … Continue reading "American Pop Culture"
Game TheoryGame theory serves as the foundation of systematized decisionmaking and modern economics. Indeed, Minimax game theory underlies modern economics and is responsible for countless economic insights, many of which won Nobel Prizes. Besides game theory, von Neumann eventually modeled the lenses behind the Los Alamos plutonium nuclear bomb. As a Jewish refugee from Europe whose … Continue reading "Game Theory"
Metric SystemThe metric system standardized weights and measures enabling trade and improving communication. Before the metric system, every country and also countless regions, used different forms of measurement. This vastly complicated international trade. Metric The metric system derives from the natural world and uses a decimal counting system for simplicity. Length derives from the meter, a … Continue reading "Metric System"
PatentsPatents protect the invention of things but not works of art or trademarks, which have their own body of law. They give a limited monopoly for an inventor to produce or license their invention for a set amount of time. Throughout history, patent law has inspired and rewarded innovation but also stifled innovation when abused. … Continue reading "Patents"
Repo LoansRepo loans are a type of loan, typically from one bank to another, with a very short term for repayment. One day repo loans are common. Despite the name, “repo loans” have nothing to do with repossessions. Background Repo loans came about after the US finally chartered a single, all-powerful central bank in December 1913. … Continue reading "Repo Loans"
