And while I was making the book,

So he kicks off with what could be, with Every once in a while, a revolutionary product comes along that changes everything.

Because all of this value is essentially being accounted for in this end 50.

You can track it back to the factory.

And so the first of these that I will focus on the first is the price of competing products.

This amazes me. This is a product I just found out.

Expectations... Expectations... of future prices. So let's say...

So if you assume that the price of... actually, I shouldn't say Competing Products,

You sell the widget. You give a customer a widget, and they give you some money.

Our vision is local manufacturing,

But look at this, he does this other thing he marvels.

It's brand new.

An exceptional lot.

The other thing we assumed that's being held constant is price expectations for our good.

Used in the manufacture of imitation tortoiseshell and jade. Trade name

Now, the third system is product service systems.

When refined, crude oil yields many products.

And here you can see an engineer it could be an architect or it could be a professional product designer create a product in 3D.

And this might have worked in Berlin, but we built it in Houston, and the windows are all closed.

The Hidden Life of Everyday Objects.

And that's great because this is a neat trick.

This is where you pay for the benefit of the product what it does for you without needing to own the product outright.

They have it for people with allergies to peanuts.

Well, we're commissioned by pharmaceutal and cosmetic companies to test their products.

In the 21st Century it becomes the digital files.

These products are of the same quality.

To produce those 3 million widgets for 1, it cost me maybe 0.30 a widget, or 0.33 a widget.

His invention will save hours in manufacturing our product.

We have a product on the loose.

So the actual contribution to GDP, you would only put the final good, so you wouldn't include all of these other intermediate goods and services you would just say this whole chain of events results in a 50 increase in GDP.

You know, the average grocery store today offers you 45,000 products.

Local River is able to provide you food directly in your living room.

I seldom eat dairy products.

Product is secure.

These products are of the same quality.

Perhaps we need to focus on that and get that message back across.

It typically reads CAD data, which is a product design data created on professional product design programs.

Heparin a blood thinner, a pharmaceutical product starts out in artisanal workshops

Close to the Mediterranean, near Alexandria textiles, petrochemicals.

You might have a component. Let's say a graphics chip that goes inside of someone else's laptop.

Looks like we have a fine product.

So this is a musical interface built by a student from Italy, and he's now turning this into a product.

I want to know your product, that's very important.

Now we live in a global economy.

These products are superior to theirs.