Oct 21, 12 •
362 Views •
Businesses, Demand, Supply, and Markets, Economic History, Economic Thinkers, Innovation, Labor, Macroeconomic Measurement, Uncategorized •
Elaine Schwartz •
Saying that profit, not necessity is the mother of invention, economic historian John Steele Gordon starts his column in this week’s Barrons. His focus was the 18th century clipper ships that earned people like John Jacob Astor $50,000 for a single
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