Business

"How Ikea's Billy bookcase took over the world"

Fine piece by economist Tim Harford. If I were still teaching MBAs I'd assign it to them. Has several interesting nuggets including these three:

Now there are 60-odd million in the world, nearly one for every 100 people - not bad for a humble bookcase. . . . 

Every three seconds, another Billy bookcase rolls off the production line of the Gyllensvaans Mobler factory in Kattilstorp, a tiny village in southern Sweden. . . .

It does not look like it has changed much since 1978, yet it costs 30% less. That is partly due to constant, tiny tweaks in both product and production method.

UPDATE: Link included now.