Quotation of the Day…

by Don Boudreaux on November 10, 2011

in Current Affairs, Growth, Inequality, Myths and Fallacies, Standard of Living

… is from Steve Chapman’s column in Sunday’s Chicago Tribune:

Ten years ago, the richest person on Earth couldn’t buy a device that does what the iPhone does.  Today, anyone can get one free upon signing a two-year carrier contract.  Entry-level cars are vastly better in amenities and reliability than your father’s Cadillac decades ago.

Lifesaving and life-changing medicines and therapies once unknown are now commonplace.  Food costs a fraction of what it once did.  TV viewers used to have three channels to choose from.  Now they have hundreds.

Read the entire column.  (HT Dan Polsby)


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