'Faster, better and cheaper' has been the rallying cry of capitalism for the past 250 years, ever since the first factory brick was laid in bucolic pasture land. Indeed, one of the dominant drivers in business -- from the Industrial Revolution to the Internet Revolution -- has been low-cost, high-impact innovation.
This was part of the inspiration for Eli Whitney, who invented the cotton gin in 1793. Whitney’s machine delivered on the promise of faster, better and cheaper, and it touched off a surge of productivity that doubled the yield of raw cotton each decade after 1800.
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