THIS IS EARLY STAGE CAPITALISM:
Four Ways You’re Living Better Than Ever: From your life expectancy to your home to your grocery cart, living standards have soared. But continued growth isn’t guaranteed. (Donald J. Boudreaux, October 23, 2025, Daily Economy)
One could go on, of course. Almost needless to say – but I’ll say it nevertheless – in 1975 almost no one owned a personal computer, and absolutely no one owned a smartphone. There was no Internet for ordinary people. Commercial air travel (which was still heavily regulated) was a luxury. Automobiles had no backup cameras, navigation screens, or keyless features. There was no streaming music. Most Americans had a choice of a whopping four broadcast television channels – and all television was low-def. Coffee quality was poor and the selection of beer was minuscule. There was no LASIK surgery. And luggage was true to its name: unable to roll, it had to be lugged. This list could be greatly extended.
There is simply no truth to the countless claims that Americans have been economically impoverished over the past few decades by freer trade and globalization.