50 Things That Made the Modern Economy

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Johannes Gutenberg's printing press changed the course of human history. It created a new way of doing business, drastically reduced the cost and speed of making books, and enabled texts, ideas and arguments to spread further and faster than ever before. So why did he struggle to make money from it?

In 1997, Garry Kasparov, widely regarded as the world's greatest chess player, was defeated by Deep Blue, a computer. But how much did that reveal about the 'brainpower' of machines? Tim Harford explains by delving into the history of algorithms. They've been used by mathematicians and scientists for millennia, but have acquired a new level of power and importance in the digital age.

From reliable water supplies to large-scale electricity generation, the benefits brought by dams can be huge. But so can the problems. Tim Harford explains how these massive structures have changed the world for many, but led to catastrophe for others.

In the early 20th Century, makers of sanitary towels had to find a way to sell an item that some people found too embarrassing to mention. In some parts of the world, that stigma still hasn't gone away. Tim Harford charts the controversial history of a quietly revolutionary product.

There are more than 36,000 McDonald's restaurants around the world - but if the McDonald brothers had had their way, that might never have happened. Tim Harford tells the story of how milkshake-mixer salesman Ray Kroc turned their burger business into a global giant, and explains the principles that made his franchising model such a success.

As populations age, pension systems around the world are coming under strain. Governments, employers and economists are searching for ways to alleviate the problem - but could traditional societies hold some valuable lessons?

Women's lives were transformed by sewing machines, which made a "never-ending, ever-beginning task" far less arduous and time-consuming. But Isaac Singer, who made his fortune from these devices, was far from a champion of women's rights. Tim Harford tells a story of how self-interest can sometimes be a powerful driver for social change.

In theory, stock options should motivate executives to perform better by tying their pay to their company's performance. So why do some argue the practice has just become a way for the highest earners to boost their salaries even further? Tim Harford turns to ancient Greek philosophy and Bill Clinton's presidency in search of the answer.

The Society for Worldwide Interbank Financial Telecommunication - SWIFT - solved some big problems with international financial transfers, making them more secure and reliable than ever before. However, as Tim Harford explains, the global political climate means it might now be facing its greatest challenge.

Spectacles have been around for centuries, and have a huge impact on many people's quality of life. So why is it estimated that more than two billion people aren't aware that they need them? Tim Harford considers the difference that seeing clearly makes to the world.

How dependent is the world on GPS - and what would happen if it stopped working? Tim Harford explains why it's not just our ability to navigate that would be affected.

When the US outlawed the manufacture and sale of alcoholic beverages, it inadvertently created one of the most successful black markets in the world. Tim Harford considers how much it costs to make something illegal, and what a failed law reveals about the way criminals make their money.