Interesting book that was an easy read. Each invention is a chapter that essentially stands alone, so it’s an easy book to pick up and put down. The author’s self-described purpose is not to list the fifty most economically significant inventions. It’s instead to tell of interesting inventions that shaped the economy by tugging on a complex web of economic connections. Sometimes they tangled us up, sometimes they sliced through old constraints, and sometimes they weaved entirely new patterns.
The author is a good writer and the book is enjoyable and informative. The only downside is that he’s a European who thinks all good things and all responsibility are ultimately inherent in government. The book was written in 2017, so there are numerous references to climate change and several digs at the current administration in Washington. That aside, however, the book is worth reading. The fifty inventions are (apparently in no certain order):
- The plow
- The gramophone
- Barbed wire
- Seller feedback (pioneered by eBay)
- Google search
- Passports
- Robots
- The welfare state
- Infant formula
- TV dinners
- The pill
- Video games
- Market research
- Air conditioning
- Department stores
- The dynamo
- The shipping container
- The bar code
- The cold chain (refrigerated transportation)
- Tradable debt
- The Billy bookcase (Ikea)
- The elevator
- Cuneiform
- Public-key cryptography
- Double-entry bookkeeping
- Limited liability companies
- Management consulting
- Intellectual property
- The compiler
- The iPhone
- Diesel engines
- Clocks
- Chemical fertilizer
- Radar
- Batteries
- Plastic
- The bank
- Razors and blades
- Tax havens
- Leaded gasoline
- Antibiotics in farming
- M-pesa (mobile money)
- Property registers
- Paper
- Index funds
- The S-bend (traps in drain pipes)
- Paper money
- Concrete
- Insurance
- The lightbulb