Tag Archives: Orteig prize

How open innovation will transform the Great British pound

Farewell to the pound coin’s familiar golden nugget design. Here comes the dough-decagon in its stead. The new 12-sided quid, modelled after the old threepenny bit, got plenty of attention this week. But the most interesting part of the design is what was left out. The flipside of the coin will be opened to a public design competition. Continue reading

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Filed under Freedom, Human nature, Innovation

The socialist Titanic that punctured the dream of free market zeppelin travel

WHO wants to help me build an airship? The reputation of the free market has a score to settle. Let me explain: blimps, zeppelins, dirigibles – whatever you call them, these stately giants of the sky, grounded since the 1940s, have never lost their hold on our imagination. From Pixar’s Up to the Final Fantasy video games, even if they no longer drift through our skies, they haunt our dreams.

Today, these wonderful machines have a chance to make a comeback, with commercial applications ranging from military surveillance to pipeline-free shipment of natural gas, to the tourism pioneered before the Second World War. But while there are technical hurdles to cross, the real roadblock is the cultural memory of a series of disastrous crashes, most famously that of the Hindenburg. Yet our memory gets the culprit wrong. The early airships were damned not by the limits of their technology, but socialist interference. Continue reading

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Filed under Economics, Freedom, History, Innovation, Politics, Technology