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In 1952, William Vickrey devised an innovative system of turnstiles for the New York subway - but it never became a reality. So how did it help make the modern world?

In 1952, economist William Vickrey devised an innovative system of turnstiles to help solve a major problem on New York’s subway network. It never became a reality, but, as Tim Harford explains, the idea behind it has had a major influence on how companies decide what to charge us for goods and services today.

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10 minutes

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Mon 28 Oct 2019 04:50GMT

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William S Vickrey, pictured in October 1996 (Credit: Jon Levy/AFP/Getty Images)


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