U.S. Patent Office Requirements During the 19th Century

U.S.-patent-officeBetween 1790 and 1880, all United States patents required a working model of the idea proposed prior to being patented. This requirement was phased out by the U.S. Congress in 1870, but the U.S. Patent Office continued to stipulate it as a requirement until 1880. The reason for the abolishment of this stipulation was that creating working prototypes was an expensive process and it was often difficult to find a tradesperson who could create the parts needed. This inconvenience slowed down the ability of inventors to acquire patents so that their product could be sold upon the open market. It was eventually agreed by the U.S. Congress as well as the U.S. Patent Office that this laborious process held up the release of inventions which could potentially make life easier for everybody and was therefore repealed

The Vancouver, Canada Housing Market and the Theory of the Greater Fool 

Vancouver-Canada-housing-market-investment

The Fraser Valley is the fastest growing suburb in Canada. The housing market in Vancouver, British Columbia is by far the most expensive in Canada, even more so than in Toronto, Ontario which for a long time was the most destabilized market in Canada. The most expensive region of Vancouver to live in is West Vancouver. 65% of residents of Vancouver and the Greater Vancouver area which includes the Fraser Valley are homeowners. Fundamentally, the Vancouver housing market is easy and cheap income, and from that, lots of it. The chasing of returns on a speculative basis has no basis in reality in terms of what an assets (e.g. a physical property) true valuation is but it is justified on the notion that it does not matter what a buyer pays now, as another buyer will pay more in the future. This is referred to as the “Greater Fool theory” in that the next person will cover the cost of the last person. This model is for obvious reasons unsustainable

Nazi German V2 Rocket Production During World War II 

Nazi-German-V2-rocket

The V2 rocket was one of the most expensive pieces of weaponry utilized during World War II. The V2 rocket was manufactured under slave labor conditions and although it was successful in its ability to kill 5000 people during its various attacks, 10,000 – 20,000 people died during its production as miscalculations and errors often occurred during the various manufacturing and testing processes. The V2 rocket was primarily built by Russian, Polish, Ukrainian, and French prisoners of war. Overworking, underfeeding, and not providing sanitation caused many deaths to these slave laborers which hindered the ability to produce the unrealistic quota demands Adolf Hitler had requested of the German military. For each V2 rocket which was produced, 6 slave laborers died. Wernher von Braun performed many calculations for the German military in terms of the amount of concentration camp slave laborers required to meet demand quotas as well as how many people were expected to die during each production run. Prisoners were often hung publicly within the labor camps as punishment for resistance or sabotage of the project