When a truly great new invention appears, people rarely greet it with the reverence that hindsight later bestows. Instead, they squint at it through the lens of the familiar. They ask: What is this like? And because it is not like anything they already know, they underestimate it. History is littered with inventions that, at […]
The initial underappreciation of great inventions
The initial underappreciation of great inventions
31 Jan 2026 Leave a comment
in economic history, industrial organisation Tags: creative destruction, The Great Enrichment
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