Michael Shermer - The Mind of the Market

Chapter 5 - Of Pandas, Products and People

Page 56-57:

The number of patents is not a reliable indicator of innovation. See Basalla, George. 1988. The Evolution of Technology. New York: Cambridge, p.128:

Seventy of the most important inventions of the first half of the 20th century were the result of independent inventors who did not patent their inventions: the automatic transmission, Bakelite, the ballpoint pen, cellophane, the cyclotron, the gyrocompass, insulin, the jet engine, Kodachrome film, magnetic recording, power steering, the safety razor, xerography, the Wankel rotary-piston engine, and the zipper.

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