... as early as 1866. Written records on this event are rare, but it was obviously witnessed by the two US senators Samuel Pomeroy of Kansas and John Bingham of Ohio. A bill was introduced into Congress to support Loomis with an extraordinarily high amount of fifty thousand dollars. It was finally voted down, but Loomis was granted the right to issue up ... at least for some years. The story confirms that there is some truth in Joseph Schumpeter's model of technological change, in which he emphasizes the dominant role of the entrepreneur [Russell, 2003]. Marconi clearly did cause change and...

• Word Count: 2176
• Approx Pages: 9
• Has Bibliography
• Grade Level: Undergraduate