Macroeconomics 8: Productivity & Getting Lit
Planet Money Summer School
00:00
Edison Was a Good Innovator
Edison knew that was who he had to be. He spent a lot of time thinking about economics. In fact, if you look at his notebooks, constantly he's going through and comparing the cost of what he's doing to what the cost of the gas system is. To light a square mile of lower manhattan, edison needed a whole financial system. So most of it is actually the structure around it. Edison comes along at a time when all this machinery, patents, corporations, banks is in place.
Transcript
Play full episode
