The high cost of early adoption

In James Tobin’s book To Conquer the Air, I was amazed to learn that the Wright Brothers paid a premium for their first bicycles, even in today’s money, it sounds like a lot for a bike!

In the Wright family, Orville was infected first, in the summer of 1892, when he bought a fine new Columbia for $160, a very substantial sum at the time when relatively few workers earned more thatn $500 per year. He soon entered races and did well. Will bought his own model-used, for $80- several weeks later.

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