50 Things That Made the Modern Economy cover image

50 Things That Made the Modern Economy

Latest episodes

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Jan 6, 2020 • 10min

Fast food franchise

There are more than 36,000 McDonald's restaurants around the world - but if the McDonald brothers had had their way, that might never have happened. Tim Harford tells the story of how milkshake-mixer salesman Ray Kroc turned their burger business into a global giant, and explains the principles that made his franchising model such a success.
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Dec 30, 2019 • 10min

CCTV

Surveillance cameras were invented so Nazi scientists could observe rocket launches from a safe distance. They've come a long way since then, and are gathering more data about us than ever before. But in a world where millions happily carry smartphones in our pockets, how do we really feel about being watched?
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Dec 23, 2019 • 11min

Retirement

As populations age, pension systems around the world are coming under strain. Governments, employers and economists are searching for ways to alleviate the problem - but could traditional societies hold some valuable lessons?
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Dec 16, 2019 • 16min

Santa

Why does Father Christmas wear red and white? It's not for the reason you may think. In an updated version of an episode from 2018, Tim Harford tells the story of Christmas and consumerism.
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Dec 9, 2019 • 10min

Sewing machine

Women's lives were transformed by sewing machines, which made a "never-ending, ever-beginning task" far less arduous and time-consuming. But Isaac Singer, who made his fortune from these devices, was far from a champion of women's rights. Tim Harford tells a story of how self-interest can sometimes be a powerful driver for social change.
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Dec 2, 2019 • 10min

Hollerith punch card

Data is a hugely profitable commodity - if you know how to process it. Tim Harford tells the story of Herman Hollerith, and how his 19th-century machine for processing census data laid the foundations for some of the world's most valuable companies.
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Nov 25, 2019 • 10min

Stock option

In theory, stock options should motivate executives to perform better by tying their pay to their company's performance. So why do some argue the practice has just become a way for the highest earners to boost their salaries even further? Tim Harford turns to ancient Greek philosophy and Bill Clinton's presidency in search of the answer.
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Nov 18, 2019 • 10min

Fundraising appeal

Tim Harford goes back to the 1900s to tell the story of how charity fundraising became big business. But in the social media age, what's the most effective way to get people to give?
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Nov 11, 2019 • 10min

SWIFT

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - solved some big problems with international financial transfers, making them more secure and reliable than ever before. However, as Tim Harford explains, the global political climate means it might now be facing its greatest challenge.
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Nov 4, 2019 • 10min

Wedgwood

Josiah Wedgwood is arguably the best-known name in the history of pottery - but it's not just his pots that made their mark on history. Tim Harford explains how a business model Wedgwood devised in the 18th Century still underpins the modern fashion industry.

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