The free market economic system quite literally is the savior of the world. A study by the World Bank revealed that, in 1820, about 84% of the world's population survived on just $1.90 per day per person. That's grinding poverty. By 1981, that percentage had declined to 42% of the population. Today, less than 8% of the world's population still lives on $1.90 per day (all are 2011 dollars). That's dramatic. The free market economic system is lifting many, many billions of people out of poverty.
Yet, an astonishingly small number of people know how and why the free market system came into being or how it is able to create wealth so prolifically. That's downright dangerous to everyone's well-being. It's important to understand the goose that lays golden eggs. Economic policies and proposals that actually hamper wealth creation abound. Misguided people advocate replacing what works so well with collectivist schemes that have already failed miserably many times, casting millions back into poverty and worse.
This book is written clearly and simply with the hope that virtually anyone can understand it. There is no unexplained jargon. It is not very long. It is not an economics course, but the reader should gain a deep understanding of and appreciation for how the free market economic system works. It is an exhilarating and satisfying feeling when that bright light of comprehension clicks on! Enjoy.
Roy Minet majored in physics in college, but accepted a first job offer in engineering with a large multi-national corporation. Following that were positions in sales, then marketing management and finally management of a strategic business planning group, all for the same corporation. Moving into small business, he bought and operated a beer distributorship for 12 years before selling it. While distributing (and perhaps drinking) beer, he founded Intelligent Computer Systems, Inc., which pioneered comprehensive, integrated, real-time business software and installed turnkey computer systems for distribution businesses nationwide. After 22 years, ICS was sold to the 3M Corporation. Mr. Minet is now retired and pursuing a backlog of personal projects; most notably, improving all aspects of elections. He also has taught economics part time in 11th and 12th grades with the Junior Achievement program. Approximately 40 of his op-ed columns have been published. Mr. Minet was the Libertarian Party's candidate for Pennsylvania Auditor General in 2016.
