I wonder how many people could have been fed …, by Tom Nicholson.
A guy looked at my Corvette the other day and said I wonder how many people could have been fed for the money that sports car cost.
I replied I am not sure, it fed a lot of families in Bowling Green, Kentucky who built it, it fed the people who make the tires, it fed the people who made the components that went into it, it fed the people in the copper mine who mined the copper for the wires, it fed people in Decatur IL. at Caterpillar who make the trucks that haul the copper ore. It fed the trucking people who hauled it from the plant to the dealer and fed the people working at the dealership and their families. BUT,… I have to admit, I guess I really don’t know how many people it fed.
That is the difference between capitalism and welfare mentality. When you buy something, you put money in people’s pockets, and give them dignity for their skills.
When you give someone something for nothing, you rob them of their dignity and self worth.
Capitalism is freely giving your money in exchange for something of value.
Socialism is taking your money against your will and shoving something down your throat that you never asked for.
Mises pointed out that making the production chain longer leads to wealth. It has taken many years to appreciate. Societies that have production chains long enough to make nice cars are very wealthy.