|Thomas Edison & his phonograph|
The unending flow of world-changing inventions not only improved our lives- they saved our young republic. America experienced six financial panics from 1837 to 1920 and four major wars during that same period- roughly one every 17 years. Yet, we survived and eventually thrived, the improvements in technology giving a boost to businesses and economic growth, generating millions of jobs. Samuel F.B. Morse developed the telegraph and a new industry- telecommunications- in 1844, sending a message sitting in the U.S. Capitol, tapping out the words "What hath God wrought?" Just after the Panic of 1873, Bell's telephone, Edison's quadruplex telegraphy, the phonograph and light bulb boosted economic economic activity. Around the time of the Panic of 1893, Tesla's induction electric motor and Diesel's engine ramped it up again.
|Henry Ford, Thomas Edison, Harvey Firestone|