The article examines why inventors in the U.S. failed to make a fortune from their creativity and be included in the Forbes Four Hundred list of richest people in the country. Topics discussed include the number of years to make an invention commercially available, lack of funds for the production and the reason why Thomas Edison did not make a profit from the light bulb. Also mentioned is the lack of a market niche like the microbe invented by Ananda Chakrabarty.
INVENTORS, ELECTRIC power, BUSINESSMEN, ELECTRICITY
Abstract
The article profiles American inventor and businessman Thomas Alva Edison. It discusses his contributions to the light and power industry, his reputation as the world's greatest inventor, and his belief that time will come when mankind will draw electrical energy on a large scale directly from the sun. His views on the evolution of electrical invention and discovery are highlighted.
INVENTORS, TECHNOLOGICAL innovations & economics, INVENTIONS -- Social aspects
Abstract
The article discusses the demise of free-lance inventors and the emergence of corporate inventors as the dominant force for innovation. According to the author, the trend toward the corporate inventor was initiated by Thomas Alva Edison. The author adds that Edison was keenly aware of his limitations and established a research laboratory which led to the emergence of the first corporate inventors such as John W. Lawson.
An introduction is presented in which the editors discuss various reports within the issue on topics including the railroad rate decision of the American Interstate Commerce Commission, the Leeds and Northrup manufacturing company's employee plan, and an interview with inventor Thomas A. Edison.
Several excerpts from the articles in the previous issues of the periodical "Forbes," including one on scientist Thomas A. Edison, another on requirement of metals in automobile manufacturing and one on bank loan services, are presented.