Think about Richard Scarry's Cars a...

Think about Richard Scarry's Cars and exchanges and Things That Go. (1) Think about what that part would have looked like in sequential decades of the last hundred had Richard Scarry been alive in each of them to delight and amuse children and parents. Each later decade has seen the progression in a continuously ascending gradation of ever more specialized vehicles. We started with the model-T Ford. We now have more examples of backhoe loaders than smooth the most precocious four-year elderly can identify.

What relevance does this have for economics? In the late 1960 there was a shift in the piece of work ...