Fantastic post! But an even better example of how the Republic of letters would have benefited a scientific genius was Galileo. He was sponsored by a rich duke and made tremendous contributions but ultimately he was unable to spread his obviously innovative ideas because the church persecuted him. Newton in England had no such problems just a few decades later because he was effectively part of that republic of letters where him and Leibniz were able to communicate with other intellectuals in other countries.
Profit drives innovation. But concentration of power in an industry with vertical and horizontal integration stifles competition and makes profits less because of the higher cost of entry into that market.
You don't need to build a better mousetrap if you control the market.
One part I see missing (or I just did not see it). A better mousetrap is part physical reality and part perception. If you are a master at perception (PR and marketing), you can build a perceived better mousetrap without actually building a physically better mousetrap. And PR can be a lot less expensive than physical innovation.
We and the world have all become masters at PR and saying the right thing (talking points) to create the right perception. I wonder how this affects the model.
Fantastic post! But an even better example of how the Republic of letters would have benefited a scientific genius was Galileo. He was sponsored by a rich duke and made tremendous contributions but ultimately he was unable to spread his obviously innovative ideas because the church persecuted him. Newton in England had no such problems just a few decades later because he was effectively part of that republic of letters where him and Leibniz were able to communicate with other intellectuals in other countries.
Profit drives innovation. But concentration of power in an industry with vertical and horizontal integration stifles competition and makes profits less because of the higher cost of entry into that market.
You don't need to build a better mousetrap if you control the market.
One part I see missing (or I just did not see it). A better mousetrap is part physical reality and part perception. If you are a master at perception (PR and marketing), you can build a perceived better mousetrap without actually building a physically better mousetrap. And PR can be a lot less expensive than physical innovation.
We and the world have all become masters at PR and saying the right thing (talking points) to create the right perception. I wonder how this affects the model.