50 Things That Made the Modern Economy

50 Things That Made the Modern Economy is a British radio show and podcast which airs 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 airing on 30 March 2019.

50 Things That Made the Modern Economy
Presentation
Hosted byTim Harford
FormatAudio
Production
Audio formatMP3
Publication
Original release2016 – present
ProviderBBC
Related showsA History of the World in 100 Objects
Websitehttps://www.bbc.co.uk/programmes/p04b1g3c

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."[1]

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, which ran from late September to early October, 2017.[2] The winning item was announced as the credit card in an episode released on 28 October 2017. A special bonus episode on Santa Claus was broadcast on Monday 24 December 2018.

The first series was released by Harford as a book titled Fifty Things That Made The Modern Economy. It was published in the UK by Little, Brown Books, and as Fifty Inventions That Shaped The Modern Economy in the US by Riverhead Books. The hardcover and eBook editions were released on 6 July 2017 in the UK and on 29 August 2017 in the US. A paperback edition was released on 2 August 2018.

Episodes

Series 1 (2016–2017)

Each of the nine-minute long programmes introduces the story of a product or invention that revolutionised the modern world.

Each episode was originally broadcast on BBC World Service, with a subsequent broadcast on BBC Radio 4 and distribution as a BBC podcast.

Series 1 episode listing with released titles and taglines
EpisodeTitleTaglineBroadcast Date
1 Diesel EngineRudolf Diesel died in strange circumstances after changing the world with his engine5 Nov 2016
2 Haber-Bosch ProcessSaving lives with thin air - by taking nitrogen from the air to make fertiliser14 Nov 2016
3 Shipping ContainerThe boom in global trade was caused by a simple steel box19 Nov 2016
4 ConcreteIt's improved health, school attendance, agricultural productivity and farm worker wages26 Nov 2016
5 iPhoneHow Uncle Sam played an essential role in the creation and development of the iPhone3 Dec 2016
6 BarcodeHow vast mega-stores emerged with the help of a design originally drawn in the sand10 Dec 2016
7 BankingWarrior monks, crusaders and the mysterious origins of modern banking17 Dec 2016
8 LightbulbOnce too precious to use, light is now too cheap to notice24 Dec 2016
9 M-PesaTransferring money by text message is far safer and more convenient than cash31 Dec 2016
10 CompilerInstalling Windows might take 5,000 years without it7 Jan 2017
11 Billy BookcaseLow cost, functional and brilliantly efficient, one is produced every three seconds14 Jan 2017
12 AntibioticsThe tale of antibiotics is a cautionary one, and economic incentives are often to blame20 Jan 2017
13 PaperThe Gutenberg press changed the world – but it could not have done so without paper28 Jan 2017
14 InsuranceInsurance is as old as gambling, but it's fundamental to the way the modern economy works4 Feb 2017
15 GoogleThe words 'clever' and 'death' crop up less often than 'Google' in conversation11 Feb 2017
16 ClockThe clock was invented in 1656 and has become an essential part of the modern economy18 Feb 2017
17 Disposable RazorKing Camp Gillette created the disposable razor. But his influence extends beyond shaving25 Feb 2017
18 RobotRobots threaten the human workforce, but they are crucial to the modern economy4 Mar 2017
19 Public-Key CryptographyGeeks versus government – the story of public key cryptography11 Mar 2017
20 BatteryThe story of the battery begins inside a dead murderer. It's a tale that's far from over18 Mar 2017
21 Gramophone"Superstar" economics – the story of how the gramophone led to a winner-take-all market25 Mar 2017
22 TV DinnerThe TV dinner, and other inventions from the same era, made a lasting economic impression1 Apr 2017
23 Contraceptive PillThe pill wasn't just socially revolutionary, it also sparked an economic revolution8 Apr 2017
24 ElevatorThe safety elevator is a mass transit system that has changed the shape of our cities15 Apr 2017
25 Air ConditioningInvented for the printing industry, air conditioning now influences where and how we live22 Apr 2017
26 CuneiformCuneiform, the earliest known script, was used to create the world's first accounts29 Apr 2017
27 Video GamesFrom Spacewar to Pokémon Go, video games have shaped the modern economy in surprising ways6 May 2017
28 Intellectual PropertyIntellectual property reflects an economic trade off when it comes to innovation13 May 2017
29 PassportsIf anyone could work anywhere, some economists think global economic output would double22 May 2017
30 Tally StickThe tally stick shows us what money really is: a kind of debt that can be traded freely27 May 2017
31 Index FundWarren Buffett is one of the world's great investors. His advice? Invest in an index fund3 Jun 2017
32 Infant FormulaFor many new mothers who want, or need, to get back to work, infant formula is a godsend10 Jun 2017
33 Tax HavensGabriel Zucman invented an ingenious way to estimate how much wealth is hidden offshore17 Jun 2017
34 Barbed Wire"Lighter than air, stronger than whiskey" – barbed wire wreaked huge changes in America24 Jun 2017
35 Department StoreHarry Selfridge pioneered a whole new retail experience with his London department store1 Jul 2017
36 Leaded PetrolWhen lead was added to petrol it made cars more powerful – but it also poisoned people8 Jul 2017
37 DynamoThe big story behind the way dynamos made electricity useful15 Jul 2017
38 Limited Liability CompanyHow some legal creativity has created vast wealth down the centuries22 Jul 2017
39 Paper MoneyCurrency derives value from trust in the government which issues it29 Jul 2017
40 Seller FeedbackWithout seller feedback, companies like eBay might not have grown as they have5 Aug 2017
41 PlasticWe make so much plastic these days that it takes about eight percent of oil production12 Aug 2017
42 Market ResearchMarket research marked a shift from a producer-led to consumer-led approach to business19 Aug 2017
43 RadarA high-tech 'death ray' capable of zapping sheep led to the invention of radar26 Aug 2017
44 S-BendThe S-bend was a pipe with a curve in it, an invention that led to public sanitation2 Sep 2017
45 Double-entry BookkeepingRenaissance man Luca Pacioli wrote the definitive book on double-entry bookkeeping9 Sep 2017
46 Management ConsultingIf managers often have a bad reputation, what should we make of the people who tell managers how to manage?16 Sep 2017
47 Property RegisterProperty rights for the world's poor could unlock trillions in 'dead capital'30 Sep 2017
48 Welfare StateDo welfare states boost economic growth, or stunt it? It's not an easy question to answer7 Sep 2017
49 Cold ChainRefrigeration revolutionised the food industry, and other industries too14 Oct 2017
50 PloughThe plough kick-started civilisation - and ultimately made our modern economy possible21 Oct 2017
51 Number 51Revealed – the winning 51st Thing! Which "thing" won the vote to be added to our list?28 Oct 2017

Special (2018)

A bonus episode on Santa Claus was broadcast on 24 December 2018. This included the announcement of the series 2 for March 2019.

Series 2 (2019)

Series 2 episode listing with released titles and taglines
EpisodeTitleTaglineBroadcast Date
1 Langstroth Hive The Langstroth Hive: a wooden box that made the industrialisation of the bee possible 30 Mar 2019
2 Cellophane Cellophane transformed how consumers purchased food, as well as how producers sold it 6 Apr 2019
3 Gyroscope The gyroscope: a remarkable device used to guide everything from submarines to satellites 13 Apr 2019
4 QWERTY From the early typewriters, the QWERTY keyboard layout has stood the test of time 20 Apr 2019
5 Bicycle Has the bicycle had its day, or is it a technology whose best years lie ahead? 27 Apr 2019
6 Mail order catalogue How the Montgomery Ward shopping catalogue transformed the middle-class way of life 4 May 2019
7 Brick The humble brick has housed us for thousands of years, but how much longer will it endure? 11 May 2019
8 Spreadsheet How a grid on a computer screen gives us a glimpse of the future of automated work. 18 May 2019
9 Recycling Could recycling save cash, as well as the planet? 25 May 2019
10 Pornography Did pornography help develop the internet? 1 Jun 2019
11 Dwarf wheat Feeding a hungry world – how Norman Borlaug used genetics to tackle predicted famines 8 Jun 2019
12 "Like" button Are we addicted to getting 'likes' on social media? 15 Jun 2019
13 Pencil Is the pencil underrated? 22 Jun 2019
14 Blockchain How powerful could the technology behind Bitcoin be? 22 Jun 2019
15 Factory Have factories made workers' lives better? 29 Jun 2019
16 CubeSat How a student engineering challenge has changed the way we use space 6 Jul 2019
17 Rubber An everyday substance with a bloody past 13 Jul 2019
18 Postage stamp How a disgruntled customer revolutionised the postal service 20 Jul 2019
19 RFID Radio frequency identification is the foundation of many contactless technologies 27 Jul 2019
20 Fire Does the story of economics really begin with a spark? 3 Aug 2019
21 Cassava A toxic plant that sheds light on hidden social forces 10 Aug 2019
22 Solar PV How important is solar power to the future of the planet? 17 Aug 2019
23 Chatbot Can a computer convince you that it's human? 24 Aug 2019
24 Oil How did the price of oil become so important? 31 Aug 2019
25 Interchangeable parts The manufacturing revolution that started with a gun 9 Sep 2019
26 Canned food The surprising lessons lurking under the lid 16 Sep 2019
27 Interface Message Processor The big metal box that made the internet possible 22 Sep 2019
28 Prohibition How much does it cost to outlaw something? 29 Sep 2019
29 Bonsack Machine Why did a machine for making cigarettes transform the advertising industry? 6 Oct 2019
30 GPS What would happen if GPS stopped working? 13 Oct 2019
31 Vickrey Turnstile How did an invention that was never built help make the modern world? 20 Oct 2019
32 Glasses A vital aid for many, but billions don't know they need them 27 Oct 2019
33 Wedgewood What does the fashion industry owe to an 18th-century potter? 3 Nov 2019
34 SWIFT A system that solved big problems is now facing its greatest challenge 10 Nov 2019
35 Fundraising appeal What's the best way to get people to give to charity? 17 Nov 2019
36 Stock option An incentive for good performance, or another way to boost executives' pay? 24 Nov 2019
37 Hollerith punch card The machine that turned data into money 1 Dec 2019
38 Sewing machine A device that changed women's lives was designed to make a man very rich 8 Dec 2019
39 Santa Why does Father Christmas wear red and white? 16 Dec 2019
40 Retirement How should we treat our elders? 23 Dec 2019
41 CCTV How do we feel about being watched? 4 Jan 2020
42 Fast Food Franchise Why the franchising model is such a success 11 Jan 2020
43 Wardian Case The economic effects of a miniature greenhouse 18 Jan 2020
44 Sanitary Towel The controversial history of a quietly revolutionary product 25 Jan 2020
45 Tulips The Tulip-mania Bubble popped in 1637 but there were other financial bubbles 1 Feb 2020
46 Dams How these massive structures have changed the world for many, but led to catastrophe for others 8 Feb 2020
47 Auctions Are things only worth what people are willing to pay for them? 15 Feb 2020
48 Chess Algorithms The history and nature of computer algorithms 22 Feb 2020
49 Slot Machines What slot machines reveal about the business of addiction 29 Feb 2020
50 The Gutenberg Press Why did Johannes Gutenberg struggle to make money from his invention? 7 Mar 2020

Bonus episodes

The series 1 episode on the Index Fund was re-released with additional comments by Harford in the podcast feed to commemorate the death of John C. Bogle.

A number of episodes of the parallel BBC radio documentary series 30 Animals That Made Us Smarter were included as bonuses in the podcast feed of early episodes of series 2.

"51st thing"

The shortlist selected by Harford for public vote as the 51st thing was:

The item selected by public vote was the credit card, announced by Harford in the episode entitled "Number 51".

Book

Each of the short chapters describes fifty products or inventions that have revolutionised the modern world. The chapter order is different from the radio broadcast and podcast order. Some book chapters have modified titles, and the chapters are grouped into sections in the book.

Book chapter listing
ChapterTitle
Introduction
1 The Plough
I. Winners and Losers
2 Gramophone
3 Barbed Wire
4 Seller Feedback
5 Google Search
6 Passports
7 Robots
8 The Welfare State
II. Reinventing How We Live
9 Infant Formula
10 TV Dinners
11 The Pill
12 Video Games
13 Market Research
14 Air Conditioning
15 Department Stores
III. Inventing New Systems
16 The Dynamo
17 The Shipping Container
18 The Barcode
19 The Cold Chain
20 Tradable Debt and the Tally Stick
21 Billy Bookcase
22 Elevator
IV. Ideas About Ideas
23 Cuneiform
24 Public-Key Cryptography
25 Double-Entry Bookkeeping
26 Limited Liability Companies
27 Management Consulting
28 Intellectual Property
29 The Compiler
V. Where Do Inventions Come From
30 The iPhone
31 Diesel Engines
32 Clocks
33 The Haber-Bosch Process
34 Radar
35 Batteries
36 Plastic
VI. The Visible Hand
37 The Bank
38 Razors and Blades
39 Tax Havens
40 Leaded Petrol
41 Antibiotics in Farming
42 M-Pesa
43 Property Registers
VII. Inventing the Wheel
44 Paper
45 Index Funds
46 The S-bend
47 Paper Money
48 Concrete
49 Insurance
Epilogue
50 Lightbulb

See also

References

  1. "BBC World Service invites suggestions for the '51st Thing' that made the modern economy", BBC World Service, 19 August 2017. Retrieved on 10 September 2017.
  2. "Vote for the 51st Thing!". BBC. Archived from the original on 5 October 2017. Retrieved 5 October 2017.
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