The industrial revolution did not begin in the eighteenth century, but was a gradual process of development comprised of the individual actions of thousands of innovators across time. The dramatic changes in the world have come about partially due to the technological growth, some of which developed out of this revolution of industry. It is not the result of a few “great, singular men”, but of many interconnected individual innovations. Jeffrey Tucker, Director of Content at FEE (Foundation for Economic Education) painted a vivid picture of the role of technology and ideas in shaping the world we live in today in an Acton University lecture titled “Technology and Markets: Medieval Times to Modernity.” He emphasized the importance of the medieval era for technological growth and formation, particularly the gradual emergence of the social norm of respecting the property rights of others.
Despite the importance of property rights, Tucker argues that ideas should not be thought of as property. (more…)