Here’s the formula: compare life for the typical person today to 30, 100, 300 years ago. The things we take for granted to today would have been an unimaginable blessing back then. I get a kick out of that story line every time I see it.
The latest in a long line of examples is from Don Boudreaux at Cafe Hayek: Capitalism: The Greatest Engine of Equality. He ponders what a man from 1700 would think of a visit to Bill Gates. Just about every one of the astounding things observed by the visitor from 1700 is also available to almost every person living in the U.S.
(Cross-post from my other blog, Outrun Change.)
The driving force behind all of this?
And property rights.
And a functional legal system.
And a functional democracy.
Read the full article. A few things that would have been beyond the wildest dream 300 years ago: (more…)