He developed many devices that greatly influenced life around the world, including the phonograph, the motion picture camera, and a long-lasting, practical electric light bulb. Dubbed "The Wizard of Menlo Park".
He was one of the first inventors to apply the principles of mass production and large-scale teamwork to the process of invention, and because of that, he is often credited with the creation of the first industrial research laboratory.
Edison is the fourth most prolific inventor in history, holding 1,093 US patents in his name, as well as many patents in the United Kingdom, France, and Germany. More significant than the number of Edison's patents, are the impacts of his inventions, because Edison not only invented things, his inventions established major new industries world-wide, notably, electric light and power utilities, sound recording and motion pictures. Edison's inventions contributed to mass communication and, in particular, telecommunications. These included a stock ticker, a mechanical vote recorder, a battery for an electric car, electrical power, recorded music and motion pictures.
His advanced work in these fields was an outgrowth of his early career as a telegraph operator. Edison developed a system of electric-power generation and distribution[4] to homes, businesses, and factories – a crucial development in the modern industrialized world. His first power station was on Pearl Street in Manhattan, New York.
In 1877–78, Edison invented and developed the carbon microphone used in all telephones along with the Bell receiver until the 1980s.
After protracted patent litigation, in 1892 a federal court ruled that Edison and not Emile Berliner was the inventor of the carbon microphone. The carbon microphone was also used in radio broadcasting and public address work through the 1920s.
Thomas Edison was an advocate for monetary reform in the United States. He was ardently opposed to the gold standard and debt-based money. Famously, he was quoted in the New York Times stating "Gold is a relic of Julius Caesar, and interest is an invention of Satan."
In the same article, he expounded upon the absurdity of a monetary system in which the taxpayer of the United States, in need of a loan, be compelled to pay in return perhaps double the principal, or even greater sums, due to interest. His basic point was that if the Government can produce debt-based money, it could equally as well produce money that was a credit to the taxpayer.
He thought at length about the subject of money over 1921 and 1922. In May 1922, he published a proposal, entitled "A Proposed Amendment to the Federal Reserve Banking System".
In it, he detailed an explanation of a commodity-backed currency, in which the Federal Reserve would issue interest-free currency to farmers, based on the value of commodities they produced.
During a publicity tour that he took with friend and fellow inventor, Henry Ford, he spoke publicly about his desire for monetary reform.
For insight, he corresponded with prominent academic and banking professionals. In the end, however, Edison's proposals failed to find support, and were eventually abandoned.
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