On Sunday of Thanksgiving weekend, I was peeling beets with my wife. As I thought, planned, and wondered how the week’s events would unfold after the weekend, I suddenly found myself asking: Who invented this miraculous device—the vegetable peeler? I know, my mind works in strange ways, but just consider the many hours that have been saved in your life, hours that could be devoted to more productive pursuits, simply because you have a trusty peeler in your home!

As it turns out, Alfred Neweczerzal invented the modern Y peeler in 1947. Known as the Rex peeler, it features a Y-shaped design with a pivoting blade that is still widely used today. The tool’s so quintessential that it’s part of the Swiss National Museum’s collection and it was even featured in a special edition stamp honouring icons of Swiss design. Although earlier peelers did exist, Neweczerzal’s version became the standard for kitchen use and was commercially successful, with tens of millions of units produced and over one million sold annually worldwide in more than 20 countries.

So, what does this have to do with investing? It’s a small, memorable story with everyday relevance that proves, once again, that the human spirit is one of innovation. It’s not just Elon Musk, Howard Hughes, or Edison who innovated; innovation is at the root of the working man or woman’s day as they seek better ways to do things. That’s how, among countless other items, the plow, the backhoe, the light bulb, cars, the telephone, and central AC came to be.

This is what Alfred Neweczerzal did in 1947 when he invented a more efficient, easy to use, and iconic peeler, making restaurants and home cooks more productive. Not a big deal, you say? Maybe not, as far as meal prep goes, but the spirit of this kind of innovation, multiplied by millions of workers and business people worldwide, is what increases productivity, drives economic growth, boosts corporate profits, and pushes share prices higher.

Innovation is a more powerful force than the president, the prime minister, or the latest “news” story that is over-televised. It is also this spirit of innovation that helps your portfolio grow, funding your children’s education, kids’ sports teams, your retirement, a second home, charitable giving, or overseas missions.

Let’s never forget it! Thank you, Alfred!

Randy

Image source: https://web.archive.org/20150320162955/http://www.swissworld.org/en/know/innovation_switzerland/rex_the_king_of_all_vegetable_peelers/