On This Day
1776 – The Wealth of Nations by Scottish economist and philosopher Adam Smith is published.
An Inquiry into the Nature and Causes of the Wealth of Nations, generally referred to by its shortened title The Wealth of Nations, is the magnum opus of the Scottish economist and moral philosopher Adam Smith. First published in 1776, the book offers one of the world’s first collected descriptions of what builds nations’ wealth, and is today a fundamental work in classical economics. By reflecting upon the economics at the beginning of the Industrial Revolution, the book touches upon such broad topics as the division of labour, productivity, and free markets.
Born On This Day
1904 – Paul Wilbur Klipsch, American soldier and engineer, founded Klipsch Audio Technologies (d. 2002)
Paul Wilbur Klipsch (born March 9, 1904 in Elkhart, Indiana – died: May 5, 2002 in Hope, Arkansas) was an American engineer and high fidelity audio pioneer, known for developing a high-efficiency folded horn loudspeaker. Unsatisfied with the sound quality of phonographs and early speaker systems, Klipsch used scientific principles to develop a corner horn speaker that sounded more lifelike than its predecessors.
Klipsch Audio Technologies
The Klipschorn, which today is still manufactured and sold worldwide, proved popular. The resulting acoustics career of Klipsch spanned from 1946, when he founded one of the first U.S. loudspeaker companies, to 2000 when the Journal of the Audio Engineering Society published one of his papers. He died on May 5, 2002 at the age of 98.
Fred Klipsch, former Klipsch owner and chairman and cousin to founder Paul Wilbur Klipsch, said, “Paul was a verifiable genius who could have chosen any number of vocations, but the world sounds a lot better because he chose audio.”
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