America at 250: Innovations that transformed business
As the United States marks its 250th anniversary, Wharton faculty explore the American business innovations that transformed industries, reshaped markets, and changed the way the world works.
2 min. read
Any conversation about the most influential innovation in American business would not be complete without mentioning Penn’s Wharton School.
Founded in 1881 by Joseph Wharton, it was the first college of business in the country. Although business was core to creating wealth for both the nation and its citizens, it had never been studied in a formal, academic setting.
“It set the foundation for professionalizing a field that was primarily based in an apprentice model,” says Wharton Dean Erika James. “By putting an educational focus around that, Joseph Wharton set the stage for generations of young people, and now adults, to learn how to effectively engage in commerce.”
James is featured in a new series titled, “American Business Innovation.” She and 11 Wharton faculty members explore the inventions that transformed industries, reshaped markets, and changed the way the world works.
“While there was rapid growth, there was no way to control or to manage the growth in any productive way,” she says. “That led to a society that was being bifurcated. You saw the wealth creation for many people in the country lead to prominence. And you saw others who were really struggling to find ways to engage in the business community. The inequality between the haves and the have-nots started to grow.”
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New Penn research shows that Hurricane Ida wasn’t a once-in-a-century anomaly but a preview of how climate change, urbanization, and aging infrastructure are rewriting flood risk.
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Fighting oral cancer with bioengineered chewing gum
Research led by Penn Dental’s Henry Daniell shows that antiviral and antibacterial chewing gums reduce the levels of three microbes linked to worse outcomes in oral cancers, paving the way for more effective and affordable therapies.
