Category: Retired

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50 Things That Made the Modern Economy - Public Key Cryptography

Take a very large prime number – one that is not divisible by anything other than itself. Then take another. Multiply them together. That is simple enough, and it gives you a very, very large “semi-prime” number. That is a number that is divisible only by two prime numbers. Now challenge someone else to take that semi-prime number, and figure out which two prime numbers were multiplied together to produce it. That, it turns out, is exceptionally hard. Some mathematics are a lot easier to perform in one direction than another. Public key cryptography works by exploiting this difference. And without it we would not have the internet as we know it. Tim Harford tells the story of public key cryptography – and the battle between the geeks who developed it, and the government which tried to control it. (Photo: Encryption algorithms. Credit: Shutterstock)
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Containers - Episode 2: Meet the Sailors

What is life like as a modern sailor, a tiny person on a huge ship in a vast ocean? Here is your answer. Episode 2 brings you a rare look into the lives of two Filipino sailors, fresh off a trip across the Pacific Ocean. These are regular people doing heroic work to support their families. And without them, the global economic order doesn't work.

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50 Things That Made the Modern Economy - Robot

Robots threaten the human workforce, but their ubiquity and growing competence make them crucial to the modern economy. In 1961 General Motors installed the first Unimate at one of its plants. It was a one-armed robot resembling a small tank that was used for tasks like welding. Now, as Tim Harford explains, the world’s robot population is expanding rapidly (the robot “birth rate” is almost doubling every five years) and, coupled with rapid advances in artificial intelligence, robots are changing the world of work in unexpected ways. (Photo: Robot, Credit: Toru Yamanaka/Getty Images)
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Crimetown - S1 E10: The Ghost

After a lucrative career as a thief, Charles Kennedy has an important realization: the real money is in drugs. He rises to become one of the East Coast’s biggest traffickers, throwing coke-fuelled parties and amassing a strange menagerie of pets. But his success attracts the wrong kind of attention.

For more information about this episode, and for a full list of credits, visit crimetownshow.com. 

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50 Things That Made the Modern Economy - Disposable Razor

King Camp Gillette came up with an idea which has helped shape the modern economy. He invented the disposable razor blade. But, perhaps more significantly, he invented the two-part pricing model which works by imposing what economists call “switching costs”. If you’ve ever bought replacement cartridges for an inkjet printer you experienced both when you discovered that they cost almost as much as the printer itself. It’s also known as the “razor and blades” model because that’s where it first drew attention, thanks to King Camp Gillette. Attract people with a cheap razor, then repeatedly charge them for expensive replacement blades. As Tim Harford explains, it’s an idea which has been remarkably influential. Producer: Ben Crighton Editors: Richard Knight and Richard Vadon (Image: Razor, Credit: Shutterstock)
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50 Things That Made the Modern Economy - Clock

There’s no such thing as “the correct time”. Like the value of money, it’s a convention that derives its usefulness from the widespread acceptance of others. But there is such a thing as accurate timekeeping. That dates from 1656, and a Dutchman named Christiaan Huygens. In the centuries since, as Tim Harford explains, the clock has become utterly essential to almost every area of the modern economy. Producer: Ben Crighton Editors: Richard Knight and Richard Vadon (Image: A wall clock. Credit: Shutterstock)
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50 Things That Made the Modern Economy - Google

The words 'clever' and 'death' crop up less often than 'Google' in conversation. That’s according to researchers at the University of Lancaster in the UK. It took just two decades for Google to reach this cultural ubiquity. Larry Page and Sergey Brin – Google’s founders – were not, initially, interested in designing a better way to search. Their Stanford University project had a more academic motivation. Tim Harford tells the extraordinary story of a technology which might shape our access to knowledge for generations to come. Producer: Ben Crighton Editors: Richard Knight and Richard Vadon (Image: Google logo and search box on a screen. Credit: Yui Mok/PA Wire)