50 Things That Made the Modern Economy

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50 Things That Made the Modern Economy

Nicholas Murray Butler was one of the great thinkers of his age: philosopher; Nobel Peace Prize-winner; president of Columbia University. When in 1911 Butler was asked to name the most important innovation of the industrial era, his answer was somewhat surprising. β€œThe greatest single discovery of modern times,” he said, β€œis the limited liability corporation”. Tim Harford explains why Nicholas Murray Butler might well have been right.

Producer: Ben Crighton Editors: Richard Knight and Richard Vadon

(Image: LLC. Credit: Getty Images)

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