What’s wealth and where does it come from?

10 million years ago, there was no wealth on earth

Wealth comes from human action. It does not exist in nature although the ingredients from which wealth is derived through human action does exist in nature. A simple example illustrative example is hydrocarbons in the ground (coal, crude oil, natural gas, etc.) They simply exist in nature. Whether it is useful or not depends on the user. Primitive life forms on earth had no use for it. Dinosaurs did not dig up coal to use as an energy source. Even primitive hominids had no use for coal. Though coal existed for millions of years, it did not become wealth until modern humans figured out only a few thousand years ago that it was great fuel for fires.
Continue reading

Keith Hudson: On a smarter keyboard

This is a guest post by my friend Keith Hudson. It is not really related to India’s economic development. Below the fold is a simple idea that Apple or any other computer hardware manufacturer may find useful. This post is to help put the idea in the public domain, for the record.
Continue reading