10 Achievements of Mankind Made Possible by Economic Freedom
9. The Age of Invention
The Age of Invention was the era of American and European history in which individual initiative and enterprise constituted the primary thread in technical innovation, roughly from the early 19th century until mass production and corporate enterprise outpaced that of the individual around the time of World War I. Most of the things which surround us today owe their existence to that brilliant era which was pivotal in converting the West from an agrarian society to an industrial one.
The railroads, the telegraph, guns, farm machinery, steel refining, electrical power, telephone, automobile, airplane, and radio, were all developed thanks to the individual inventors who were free to pursue their enterprises, could borrow money from banks, and attract private investors for their projects. The Age of Invention could only happen in the capitalist West, where the entire system of unhindered free enterprise was geared toward human achievement and realization of one’s best potential.
