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 Capitalism is… books
  by John Michael Wagner
  May 2, 2019
  Reposted from The Case for Capitalism blog with permission of the author





Capitalism encourages productivity and innovation. That’s how we get better and cheaper products, including books. It’s no accident that the greatest proliferation of books occurred in the capitalist era of post-1800.

The history of books illustrates a pattern of capitalism:
  • First, a new product gets invented, but it’s a high-cost luxury that only the wealthy can afford.
  • Second, the product becomes increasingly affordable as (a) the product becomes mass-produced and (b) workers earn higher pay.
  • Third, companies keep improving the features, cost, and quality of the product.
  • Fourth, the new and improved product becomes the new normal that we take for granted.

This capitalist pattern is wonderful for our standard of living. The average person becomes able to afford luxuries once available only to kings.
In the case of books, the pattern has been even more beneficial. The proliferation of books has done more than make life more enjoyable. Knowledge is a vital raw material for capitalism, so the proliferation of books has helped boost prosperity.
However, we must always remember the capitalist pattern is not guaranteed. It requires the right conditions. Chiefly, it requires free-market freedom and competition. That means enough government to provide a framework of stability, but not so much government that it stifles freedom and competition.

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