Quotes on Industrial

Throughout the industrial era, economists considered manufactured capital - money, factories, etc. - the principal factor in industrial production, and perceived natural capital as a marginal contributor. The exclusion of natural capital from balance sheets was an understandable omission. There was so much of it, it didn't seem worth counting.

As in biomedical science, pioneering industrial inventions have not been mothered by necessity. Rather, inventions for which there was no commercial use only later became the commercial airplanes, xerography and lasers on which modern society depends.