The stock market crash - and after

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Monograph

Identifikator:: 1815583320

URN:: urn:nbn:de:zbw-retromon-204544

Document type:: Monograph

Author:: Fisher, Irving http://d-nb.info/gnd/118533541

Title:: The stock market crash - and after

Place of publication:: New York

Publisher:: Macmillan

Year of publication:: 1930

Scope:: XXVI, 286 S.; graph. Darst

Digitisation:: 2022

Collection:: Economics Books

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Document type:: Monograph

Structure type:: Chapter

Title:: Chapter VIII. Scientific Research and Invention

Collection:: Economics Books

CHAPTER VIII SCIENTIFIC RESEARCH AND INVENTION A PRIME reason for expecting future earnings to be greater was that we in America were applying science and invention to industry as we had never applied them before. [nventing is now a profession. Invention is today recognized as having a high cash value and is eagerly sought after by progressive corporations. The con- trast with the past, even with a few years ago, is very great, and the contrast is enormous with a gen- eration or a century ago. We still talk about the wonderful innovations— power looms, steam engines and locomotives and the various elements in the English “industrial revolu- tion” of the eighteenth century—which had such a profound effect on business and banking. But let us see who invented these inventions. James Watt, inventor of the steam engine, was not a professional inventor. He was a maker of mathematical instruments. Richard Arkwright, who invented the spinning Jenny, was a barber. Edmund Cartwright, who invented the power loom, was a clergyman. Robert Fulton, who invented the steam- boat, was a portrait painter. Invention was not then 110

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