Friday, February 15, 2013

The Importance of Incentives and Scientific Progress

Even in the consumer area, indifference towards the obvious was the rule even during the scientific revolution in Europe of the 17th to 19th centuries, particularly its center, Great Britain.

Example: The properties of the highly combustible powder, phosphorus, were known, but neutralizing the danger with a matchstick was not invented in England until 1829. Until then, you struck a spark with a cumbersome combination of flint on steel, in order to ignite tinder, or a small rag.

In short, in Great Britain and Europe, and eventually the United States, potential awards for solving a variety of problems would have paid outstanding commercial as well as medical benefits sooner and faster.
(See the Earl J. Weinreb NewsHole® comments and @BusinessNewshole tweets.)









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