Gyroscope

Gyroscope

Author: BBC World Service April 8, 2019 Duration: 9:00

When the HMS Victory sank in 1744, with it went an inventor named John Serson and a device he’d dreamed up. He called it the “whirling speculum”, but we now know the basic idea as a gyroscope. Serson thought it could help sailors to navigate when they couldn’t see the horizon. Nowadays gyroscopes are tiny and, as Tim Harford describes, they are used to guide everything from submarines to satellites, from rovers on Mars to the phone in your pocket. They are also integral to drones – a technology that some believe could transform how we do our shopping. But for that, they’ll need to work in all weathers.

Image: A gyroscope (Credit: Getty Images)


Behind every price tag, spreadsheet, and market fluctuation lies a human story of curiosity, accident, and sometimes sheer stubbornness. In 50 Things That Made the Modern Economy, the BBC World Service presents a journey through the seemingly ordinary objects and concepts that quietly built the world we live in. Host Tim Harford goes far beyond dry economic theory, digging into the surprising origins of things like the plow, the bar code, or the limited liability company. Each episode unpacks how a single invention or idea rippled out, reshaping work, society, and global power structures in ways we rarely stop to consider. You’ll hear how the humble receipt fueled commerce, how the shipping container erased distances, and how double-entry bookkeeping enabled empires. This isn't just a history lesson; it's a series of detective stories that connect the dots between a tangible thing and the abstract forces that govern our daily lives. The podcast makes the invisible architecture of our world visible and compelling, revealing the economic fingerprints on everything from your smartphone to your supermarket shelf. Harford’s engaging storytelling transforms complex topics into accessible and genuinely fascinating narratives, reminding us that the modern economy wasn't built by abstract forces alone, but by concrete things dreamed up by people. Tune in to understand not just how the economy works, but how it came to be.
Author: Language: English Episodes: 100

50 Things That Made the Modern Economy
Podcast Episodes
Cold Chain [not-audio_url] [/not-audio_url]

Duration: 9:23
The global supply chain that keeps perishable goods at controlled temperatures has revolutionised the food industry. It widened our choice of food and improved our nutrition. It enabled the rise of the supermarket. And t…
Welfare State [not-audio_url] [/not-audio_url]

Duration: 9:47
The same basic idea links every welfare state: that the ultimate responsibility for ensuring people don’t starve on the street should lie not with family, or charity, or private insurers, but with government. This idea i…
Property Register [not-audio_url] [/not-audio_url]

Duration: 10:01
Ensuring property rights for the world's poor could unlock trillions in ‘dead capital’. According to Peruvian economist Hernando de Soto, the value of extralegal property globally exceeds 10 trillion dollars. Nobody has…
Searching for 51 [not-audio_url] [/not-audio_url]

Duration: 9:09
The extra “thing” – what should it be? Shortlist: the credit card, glass, GPS, irrigation, the pencil and the spreadsheet. Voting for the 51st Thing has now closed. The winning “thing” will be revealed on Saturday 28 Oct…
Management Consulting [not-audio_url] [/not-audio_url]

Duration: 10:33
Managers often have a bad reputation. What should we make of the people who tell managers how to manage? That question has often been raised over the years, with a sceptical tone. The management consultancy industry batt…
Double-entry Bookkeeping [not-audio_url] [/not-audio_url]

Duration: 9:18
Luca Pacioli was a renaissance man – he was a conjuror, a master of chess, a lover of puzzles, a Franciscan Friar, and a professor of mathematics. But today he’s celebrated as the most famous accountant who ever lived, t…
S-Bend [not-audio_url] [/not-audio_url]

Duration: 10:15
If you live in a city with modern sanitation, it’s hard to imagine daily life being permeated with the suffocating stench of human excrement. For that, we have a number of people to thank – not least a London watchmaker…
Radar [not-audio_url] [/not-audio_url]

Duration: 10:33
How the high-tech ‘death ray’ led to the invention of radar. The story begins in the 1930s, when British Air Ministry officials were worried about falling behind Nazi Germany in the technological arms race. They correctl…
Market Research [not-audio_url] [/not-audio_url]

Duration: 10:38
US car makers had it good. As quickly as they could manufacture cars, people bought them. By 1914, that was changing. In higher price brackets, especially, purchasers and dealerships were becoming choosier. One commentat…
Plastic [not-audio_url] [/not-audio_url]

Duration: 9:14
A couple of decades after Leo Baekeland invented the first fully synthetic plastic – Bakelite – plastics were pouring out of labs around the world. There was polystyrene, often used for packaging; nylon, popularised by s…