Notable Quote - Dr. Walter Williams - Granite Grok

Notable Quote – Dr. Walter Williams

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.

– Dr. Walter Williams, ( “Capitalism and the Common Man“:)Economics professor, syndicated columnist, author

The Left suffers from severe cognitive dissonance; on one hand, they rail against the 1% that have created for themselves yet go to them come election time for money.  They rail against the supposed “always on” predatory tactics and that consumers are merely dim-witted fools unable to think for themselves.  As Dr. Williams points out, capitalism IS about an exchange of added value – people bought Ford’s cars because their perceived value of the worth of those cars outweighed the cost of the money paid for them (certainly chief among them was the enhanced freedom of speedier and further travel at a time of their convenience).  Yes, the pharmacology companies reaped huge rewards, but consumers reaped value that went far beyond the cost of the medications – and the competition in the marketplace has only enhanced the cost / benefit ratio.

No, we don’t worship people who gained their wealth by ripping people off but the Left has ascribed that mal-intent to almost all large companies.  Yet, one of the positive ideals of American Exceptionalism, that people can gain from their insights, hard work, and persistence (and yes, luck plays a role as well – but only to those that are prepared when the opportunity shows itself) in the practice of economic capitalism, should not be demonized simply as a fait acompli.

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