Almost every schoolchild learns that Thomas Edison invented the light
bulb. But did he? And if he hadn't invented it, would we be still living
in the dark? Acclaimed author Matt Ridley (The Rational Optimist, The
Evolution of Everything) explains that at least 20 other people can lay
claim to this breakthrough moment. Ridley argues that the light bulb
emerged from the combined technologies and accumulated knowledge of the
day - it was bound to emerge sooner or later. Based on his 2018 Hayek
Memorial Lecture, Ridley contends that innovation - from invention
through to development and commercialisation - is the most important
unsolved problem in all of human society. We rely on it - but we do not
fully understand it, we cannot predict it and we cannot direct it. In
How Many Light Bulbs Does It Take to Change the World? Ridley examines
the nature of innovation - and how people often fear its consequences.
He dispels the myth that automation destroys jobs - and demonstrates how
innovation leads to economic growth. And he argues that intellectual
property rights, originally intended to encourage innovation, are now
being used by big business to defend their monopolies. Ridley concludes
that innovation is a mysterious and under-appreciated process that we
discuss too rarely, hamper too much and value too little.
