In Praise of Business

Entrepreneurs, innovators and businesses have turned luxuries that not even kings could afford into low-priced everyday items at your local store.

History shows us that freedom works. During 1,000 years of absolute monarchy, feudalism, and slavery, mankind’s average income increased by about 50 percent. In the 180 years since 1820, mankind’s average income has increased by almost 1,000 percent. 

During the last 100 years, we have created more wealth, reduced poverty more, and increased life expectancy more than in the previous 100,000 years. That happened because of entrepreneurs, thinkers, creators and innovators who had new ideas, who traveled geographical distances and, more important, mental distances to create new things and who saw to it that old traditions, which would have stopped new creations, would not stop them for long.