Josiah Wedgwood is arguably the best-known name in the history of pottery - but it's not just his pots that made their mark on history. Tim Harford explains how a business model Wedgwood devised in the 18th Century still underpins the modern fashion industry.
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Sources
Josiah Wedgwood: Entrepreneur to the Enlightenment, Brian Dolan, 2004 Harper Perennial, London
Durability and Monopoly, R. H. Coase, Journal of Law and Economics, Vol. 15, No 1, April 1973
How Entrepreneurs Earned Consumers' Trust from Wedgwood to Dell, Nancy F Koehn, 2001 Harvard Business School Press, Boston
Design Innovation and Fashion Cycles, Wolfgang Pesendorfer, American Economic Review
The Durapolist Puzzle: Monopoly Power in Durable-Goods Markets, Barak Y. Orbach, Yale Journal on Regulation, Vol. 21, 2004
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50 Things That Made the Modern Economy
The stories of inventions, ideas and innovations which helped create the economic world
