Quotation of the Day…

by Don Boudreaux on July 3, 2014

in Seen and Unseen, Standard of Living

… is from my colleague Walter Williams’s January 2000 essay “Capitalism and the Common Man“:

Henry Ford benefited immensely from mass-producing automobiles, but the benefit for the common man from being able to buy a car dwarfs anything Ford received.  Individuals and companies that produced penicillin and polio and typhoid vaccines may have become very wealthy, but again it was the common man who was the major beneficiary.  In more recent times, computers and software products have benefited our health, safety, and quality of life in ways that far outstrip whatever wealth was received by their creators.

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