In Search of a Major Technological Breakthrough. Part II. Reinventing the Wheel: Why Are We So Fascinated With Electric Vehicles, Artificial Intelligence, Orbital Space Travel, Anti-Obesity Drugs, and Other Old Technologies?

6 min read

One of the signs that the rate of technological progress has been falling is our recent fascination with such seemingly “revolutionary” inventions as electric vehicles, artificial intelligence, orbital space travel, and anti-obesity drugs. In fact, these inventions were made many decades or even hundreds years ago. Electric Vehicles, Public Transportation, and Bacteria The first operational electric vehicle (EV) was created in 1881. 90% of New York City taxis were electric in 1899. By the end of the 1800s, a third of all vehicles in the United States were electric (see Reference 1 below). 125 years ago on May 20, 1899…...

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Olegs Jemeljanovs, PhD, CFA A seasoned professional in the field of financial markets, investments and economic analysis with the crucial mix of private and public sector experience (large international lenders, private boutique banks, ministry of finance, central bank, financial regulator). Able to cover macroeconomic and microeconomic trends, short-term market moves and long-term economic cycles, the role of biology and psychology in finance. Have held both front-office, sales and analytical positions. If you want complex economic, financial, political, historical, sociological and psychological concepts to be explained in a simple and accessible way then you have certainly found the right website. If your consider the sense of humor to be important then you have definitely found the right man.