Friday, April 4, 2014

American middle class

The wealth that America enjoyed was unprecedented in the world. The American standard of living was unequalled anywhere on the planet. That’s not the case today. There are people who live better than Americans, but in the 1940s, 1950s, that was not the case.   

The American middle class was the envy of the world. And it wasn’t created because of government programs, it wasn’t created because of consumer spending, it was created because of the freedom that enabled our entrepreneurs to succeed.

We were able to invest and save and produce whereas other governments stifled that type of innovation. If anybody had a bright idea, they came to America to implement it. Because we didn’t have all the government roadblocks that other countries had. It was the freedom that led to our prosperity. I can only image how high our standard of living would be today had we maintain our 19th century freedom throughout the 20th century.