Here’s the formula: compare life for the typical person today to 30, 100, or 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.
One more in a long string 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.
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: Read more…