1. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #1 Innovation: The Key to Wealth Creation

2. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #2 “The reasonable man adapts himself to the world. The unreasonable man insists upon adapting the world to himself. Therefore, all progress depends upon the unreasonable man.” George Bernard Shaw

3. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #3 Maxwell’s Equations (1861) Differential Form Integral Form There were no immediate practical applications.

4. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #4 But in the 1880s... Electric motors began replacing water, wind and steam power. Electric motors began replacing water, wind and steam power.

5. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #5 Also in the 1880s... Bell began commercial telephone service. Bell began commercial telephone service.

6. Copyright 2007, S. Thomas Emerson, Ph.D. All Rights Reserved Slide #6 In the 1890s... Londoners enjoyed electric subway service. Londoners enjoyed electric subway service.