Sunday, February 7, 2016
On the Enrichment of Human Life Since 1800
It has been staggering in that virtually every indicator of well-being (GDP, per-capita income, life expectancy, infant mortality, the percentage of income spent on sustenance, etc.) has radically improved. And why has this (a skyrocketing improvement in human life after close to 40 millennia of abject misery) happened? I would argue that it has arisen primarily due to economic liberalization (secure property rights, free market capitalism, enforceable contracts, free trade, etc) and the discovery and utilization of cheap, reliable, and plentiful energy sources such as oil, coal, and natural gas. I mean, I understand that this is anathema to the left (a poison pill to their burning desire to control all of life) in that these are the things that they most want to get rid of but reality is sometimes painful and maybe its time for these bed-wetters to grow a pair, for Christ.
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I would add an overlooked component: constant large population growth (while partly
fueled by modern technology) provides the extremely important business need of
a growing customer base. For example, why build 50 million automobiles if there
are only 20 million folks out there? We note for example that drugs for rare
diseases are hardly frantic search and the few there are are very high priced.
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