The Safety Razor came about through a series of inventions that led to the current form. The modern double edged safety razor form was patented by King Camp Gillette in 1904.
Before cheap disposable stamped blades, razors were maintained by stropping and honing, so Gillette made the lack of stropping a selling point, as in this 1905 ad.
1904 patent by King Camp Gillette.
I've been shaving with a safety razor for a few years. It's not only cheaper, but its better BECAUSE its cheaper--there's absolutely no reason not to change the blade because they're so damn cheap.
Safety razors might not work for all beard types, but the razor market is a perfect example of how we are being robbed by oligopolic retail. Walmart sells safety blades, but they are boutique-priced; they know they're going to make way better margins hooking you on patented razors. Multiply that by everything you buy, and you start to see the scale of the dilemna we are in as a society.