New kind of safety air-brake for elevators

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An engineer claims to have a new kind of "safety" air-brake for elevators. If the cable should snap, a patented velocity-sensor turns on the brakes once the elevator hits 40 mph. The brakes are powerful enough to stop a 700 lb elevator in 1/20 of a second.How much force do the brakes exert to stop the elevator like this? Why isn't the answer 700 lbs? Isn't the force of gravity only 700 lbs?
What about the scheme itself: is it a good idea? Should you buy stock in this company?

Reference no: EM13334084

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