50 Things That Made The Modern Economy
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50 Things That Made The Modern Economy
''50 Things That Made the Modern Economy'' is a radio show and podcast on the BBC World Service. It is presented by economist and journalist Tim Harford. The first series was broadcast between 5 November 2016 and 28 October 2017. A second series began on 30 March 2019. Harford explained in a BBC interview in 2017 that his motivation for creating the show was "to paint a picture of economic change by telling the stories of the ideas, people, and tools that had far-reaching consequences". He was "fascinated" by the many unexpected outcomes, such as "the impact of the fridge on global politics, or of the gramophone on income inequality." Towards the end of the first series, a public call was made for suggestions of a "51st thing". Harford chose six submissions for an online vote. The winning item was announced as the credit card in an episode on 28 October 2017. A bonus episode about Santa Claus was broadcast on 24 December 2018. The first series was published in Britain as ''Fi ...
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Tim Harford
Timothy Douglas Harford (born 27 September 1973) is an English economic journalist who lives in Oxford. Harford is the author of four economics books and writes his long-running ''Financial Times'' column, "The Undercover Economist", syndicated in ''Slate'' magazine, which explores the economic ideas behind everyday experiences. His column in the ''Financial Times'', "Since You Asked", ran between 2011 and 2014 and offered a sceptical look at the news of the week. Since October 2007 Harford has presented the BBC Radio 4 programme '' More or Less.'' The series segments are also available as podcasts. Subsequently Harford launched his own podcast on the podcast production network Pushkin Industries, called ''Cautionary Tales''. Education Harford was educated at Aylesbury Grammar School and then at Brasenose College, Oxford. He obtained a Bachelor of Arts degree in Philosophy, Politics and Economics and then a Master of Philosophy in Economics, in 1998. Harford said that he ...
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Electric Light
An electric light, lamp, or light bulb is an electrical component that produces light. It is the most common form of artificial lighting. Lamps usually have a base made of ceramic, metal, glass, or plastic, which secures the lamp in the socket of a light fixture, which is often called a "lamp" as well. The electrical connection to the socket may be made with a screw-thread base, two metal pins, two metal caps or a bayonet cap. The three main categories of electric lights are incandescent lamps, which produce light by a filament heated white-hot by electric current, gas-discharge lamps, which produce light by means of an electric arc through a gas, such as fluorescent lamps, and LED lamps, which produce light by a flow of electrons across a band gap in a semiconductor. Before electric lighting became common in the early 20th century, people used candles, gas lights, oil lamps, and fires. Vasily Vladimirovich Petrov developed the first persistent electric arc in 1802, an ...
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Phonograph
A phonograph, in its later forms also called a gramophone (as a trademark since 1887, as a generic name in the UK since 1910) or since the 1940s called a record player, or more recently a turntable, is a device for the mechanical and analogue recording and reproduction of sound. The sound vibration waveforms are recorded as corresponding physical deviations of a spiral groove engraved, etched, incised, or impressed into the surface of a rotating cylinder or disc, called a "record". To recreate the sound, the surface is similarly rotated while a playback stylus traces the groove and is therefore vibrated by it, very faintly reproducing the recorded sound. In early acoustic phonographs, the stylus vibrated a diaphragm which produced sound waves which were coupled to the open air through a flaring horn, or directly to the listener's ears through stethoscope-type earphones. The phonograph was invented in 1877 by Thomas Edison. Alexander Graham Bell's Volta Laboratory made s ...
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Battery (electricity)
An electric battery is a source of electric power consisting of one or more electrochemical cells with external connections for powering electrical devices. When a battery is supplying power, its positive terminal is the cathode and its negative terminal is the anode. The terminal marked negative is the source of electrons that will flow through an external electric circuit to the positive terminal. When a battery is connected to an external electric load, a redox reaction converts high-energy reactants to lower-energy products, and the free-energy difference is delivered to the external circuit as electrical energy. Historically the term "battery" specifically referred to a device composed of multiple cells; however, the usage has evolved to include devices composed of a single cell. Primary (single-use or "disposable") batteries are used once and discarded, as the electrode materials are irreversibly changed during discharge; a common example is the alkaline battery used ...
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Public-key Cryptography
Public-key cryptography, or asymmetric cryptography, is the field of cryptographic systems that use pairs of related keys. Each key pair consists of a public key and a corresponding private key. Key pairs are generated with cryptographic algorithms based on mathematical problems termed one-way functions. Security of public-key cryptography depends on keeping the private key secret; the public key can be openly distributed without compromising security. In a public-key encryption system, anyone with a public key can encrypt a message, yielding a ciphertext, but only those who know the corresponding private key can decrypt the ciphertext to obtain the original message. For example, a journalist can publish the public key of an encryption key pair on a web site so that sources can send secret messages to the news organization in ciphertext. Only the journalist who knows the corresponding private key can decrypt the ciphertexts to obtain the sources' messages—an eavesdropp ...
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Robot
A robot is a machine—especially one programmable by a computer—capable of carrying out a complex series of actions automatically. A robot can be guided by an external control device, or the control may be embedded within. Robots may be constructed to evoke human form, but most robots are task-performing machines, designed with an emphasis on stark functionality, rather than expressive aesthetics. Robots can be autonomous or semi-autonomous and range from humanoids such as Honda's ''Advanced Step in Innovative Mobility'' ( ASIMO) and TOSY's ''TOSY Ping Pong Playing Robot'' (TOPIO) to industrial robots, medical operating robots, patient assist robots, dog therapy robots, collectively programmed ''swarm'' robots, UAV drones such as General Atomics MQ-1 Predator, and even microscopic nano robots. By mimicking a lifelike appearance or automating movements, a robot may convey a sense of intelligence or thought of its own. Autonomous things are expected to proliferate in ...
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Safety Razor
A safety razor is a shaving implement with a protective device positioned between the edge of the blade and the skin. The initial purpose of these protective devices was to reduce the level of skill needed for injury-free shaving, thereby reducing the reliance on professional barbers. Protective devices for razors have existed since at least the 1700s: a circa 1762 invention by French cutler Jean-Jacques Perret added a protective guard to a regular straight razor. The first known occurrence of the term "safety razor" is found in a patent from 1880 for a razor in the basic contemporary configuration with a handle in which a removable blade is placed (although this form predated the patent). Safety razors were popularized in the 1900s by King Camp Gillette's invention, the double-edge safety razor. While other safety razors of the time used blades that required stropping before use and after a time had to be honed by a cutler, Gillette's razor used a disposable blade with two ...
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Clock
A clock or a timepiece is a device used to measure and indicate time. The clock is one of the oldest human inventions, meeting the need to measure intervals of time shorter than the natural units such as the day, the lunar month and the year. Devices operating on several physical processes have been used over the millennia. Some predecessors to the modern clock may be considered as "clocks" that are based on movement in nature: A sundial shows the time by displaying the position of a shadow on a flat surface. There is a range of duration timers, a well-known example being the hourglass. Water clocks, along with the sundials, are possibly the oldest time-measuring instruments. A major advance occurred with the invention of the verge escapement, which made possible the first mechanical clocks around 1300 in Europe, which kept time with oscillating timekeepers like balance wheels., pp. 103–104., p. 31. Traditionally, in horology, the term ''clock'' was used for a stri ...
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Google Search
Google Search (also known simply as Google) is a search engine provided by Google. Handling more than 3.5 billion searches per day, it has a 92% share of the global search engine market. It is also the most-visited website in the world. The order of search results returned by Google is based, in part, on a priority rank system called "PageRank". Google Search also provides many different options for customized searches, using symbols to include, exclude, specify or require certain search behavior, and offers specialized interactive experiences, such as flight status and package tracking, weather forecasts, currency, unit, and time conversions, word definitions, and more. The main purpose of Google Search is to search for text in publicly accessible documents offered by web servers, as opposed to other data, such as images or data contained in databases. It was originally developed in 1996 by Larry Page, Sergey Brin, and Scott Hassan. In 2011, Google introduced "Google Voice ...
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Insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge against the risk of a contingent or uncertain loss. An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the insurer (a premium) in exchange for the insurer's promise to compensate the insured in the event of a covered loss. The loss may or may not be financial, but it must be reducible to financial terms. Furthermore, it usually involves something in which the insured has an insurable interest established by ...
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Paper
Paper is a thin sheet material produced by mechanically or chemically processing cellulose fibres derived from wood, rags, grasses or other vegetable sources in water, draining the water through fine mesh leaving the fibre evenly distributed on the surface, followed by pressing and drying. Although paper was originally made in single sheets by hand, almost all is now made on large machines—some making reels 10 metres wide, running at 2,000 metres per minute and up to 600,000 tonnes a year. It is a versatile material with many uses, including printing, painting, graphics, signage, design, packaging, decorating, writing, and cleaning. It may also be used as filter paper, wallpaper, book endpaper, conservation paper, laminated worktops, toilet tissue, or currency and security paper, or in a number of industrial and construction processes. The papermaking process developed in east Asia, probably China, at least as early as 105 CE, by the Han court eunuch Cai Lun, although the ...
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Antibiotics
An antibiotic is a type of antimicrobial substance active against bacteria. It is the most important type of antibacterial agent for fighting bacterial infections, and antibiotic medications are widely used in the treatment and prevention of such infections. They may either kill or inhibit the growth of bacteria. A limited number of antibiotics also possess antiprotozoal activity. Antibiotics are not effective against viruses such as the common cold or influenza; drugs which inhibit viruses are termed antiviral drugs or antivirals rather than antibiotics. Sometimes, the term ''antibiotic''—literally "opposing life", from the Greek roots ἀντι ''anti'', "against" and βίος ''bios'', "life"—is broadly used to refer to any substance used against microbes, but in the usual medical usage, antibiotics (such as penicillin) are those produced naturally (by one microorganism fighting another), whereas non-antibiotic antibacterials (such as sulfonamides and antisep ...
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