I’ve written a bit about this before, but I truly find the evolution of the light bulb as a consumer household essential to be fascinating. For over 100 years since its initial invention, and despite being a necessity, the common household light bulb was virtually unchanged. No major product improvements other than price in a century of industrial innovation everywhere else. Incandescent bulbs were and still are inefficient, fragile, and plagued by a short life span. Then, CFL’s came along. Lifespan and efficiency were markedly improved and made them worth buying. Prices declined...
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[Read the rest of the story at 20somethingfinance.com]