The lightbulb moment was capitalism!

in economy •  4 years ago 

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I did nothing to contribute to the invention of electricity, and yet I reap the full benefit of its existence as if I created it myself. The same is true of running water, air conditioning, the Internet, grocery stores, Netflix....even the iPhone I'm typing this on.

Realize that any economic system, even full blown Communism, rewards the immediate inventors of technology. If Edison had invented the electric lightbulb in his garage, he could have kept the technology to himself and told no one. His own life would have improved (even if he kept it a secret), but the real wealth was achieved by selling his technology to the public at a profit. As his customers' lives improved, so did his net worth. Only free market capitalism distributes wealth to the masses like this.

The cost to Edison of developing the lightbulb was hundreds of thousands of dollars and years of frustrating research. The cost to me is a couple dollars a day towards my electricity bill.

Capitalism is a reverse pyramid scheme; the later you get in, the better deal you get.

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