Tim Harford’s long-running column in the Financial Times, “The Undercover Economist,” reveals the economic ideas behind everyday experiences. His first book, The Undercover Economist, was published in 30 languages and sold…
Gain access to ad-free versions of 20+ podcasts from the Pushkin library along with exclusive bonus episodes and other member benefits.
In 1917, a brilliant British officer developed a way to use an emerging military technology: the tank. The British army promptly squandered the idea – but the Germans did not. Blitzkrieg, the devastating advance of German tanks across Europe in 1940, was invented by the British.
This is a common story: Sony invented the forerunner of the iPod, Xerox the personal computer, and Kodak the digital camera. In each case they failed to capitalize on the idea. Why?