Everett Rogers

Somebody who pointed out that, in terms of capital gains, innovations are a blessing only for early adopters. Tractors for instance – the early adopters streamlined their production and, while mechanisation was an advantage (meaning advantage over your co-farmers), the innovators out-sold those who were still using the old methods. But once everybody had a tractor, nobody had that sort of advantage (and the a problem with over-production emerged).

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