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Give thanks: You’re better off than a billionaire
Las Vegas Review-Journal ^ | November 22, 2017 | Victor Joecks

Posted on 11/22/2017 11:19:01 AM PST by VegasVictor

Looking for something to be thankful for? Try this. You have it better than billionaire John Rockefeller (1839-1937) ever did.

Rockefeller founded the Standard Oil Co. and became one of the richest men in American history. When he died, he had a fortune worth around $1.4 billion, or $25 billion in today’s dollars.

He had more money. You have better stuff.

How many lights did you turn on today? Thomas Edison didn’t patent the incandescent light bulb until Rockefeller was in his 40s. There wasn’t an electrical grid, so small generators powered the first light bulbs. Today, electricity is an afterthought. ...

There’s so much more. Your car, medical care, refrigerator and ability to travel all surpass what Rockefeller had. It’s incredible, but it wasn’t inevitable.

Government agencies and central planners didn’t coordinate this dramatic improvement in human well-being. Instead, millions of individuals tried to make themselves better off by providing a superior good or service. Because the United States has had a relatively free economy, businessmen or women couldn’t force their customers to buy. The transactions occurred only if both parties benefited. These mutually beneficial transactions — the calling card of free-market capitalism — create value. They’ve created so much value that you have a better standard of living than the richest man in America had just 80 years ago.

(Excerpt) Read more at reviewjournal.com ...


TOPICS: Constitution/Conservatism; Culture/Society; Miscellaneous; Philosophy
KEYWORDS: billionaires; capitalism; economics; freemarket; thanksgiving
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1 posted on 11/22/2017 11:19:01 AM PST by VegasVictor
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To: VegasVictor

Awfully fond of posting your own stuff, aren’t you?

http://www.freerepublic.com/tag/by:vegasvictor/index?tab=articles


2 posted on 11/22/2017 11:23:54 AM PST by humblegunner
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To: VegasVictor

Not real big on making comments, are you?

http://www.freerepublic.com/tag/by:vegasvictor/index?tab=comments;brevity=full;options=no-change


3 posted on 11/22/2017 11:31:34 AM PST by humblegunner
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To: VegasVictor

I enjoyed reading this but there’s another comparison out there between lifestyles in 1916 and 2016.

Even the very rich of a century ago didn’t have a tenth of the things which we take for granted now. It helps to know the differences, and is a powerful deterrent against discontent.


4 posted on 11/22/2017 11:32:19 AM PST by elcid1970 ("The Second Amendment is more important than Islam.")
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To: VegasVictor

Great post..!

please continue to post here at freerepublic often.


5 posted on 11/22/2017 11:32:26 AM PST by gaijin (Basically Obama lawyers would blatantly make up some totally groundless allegation against a fat cas)
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To: VegasVictor

Is this “news” or blogging?


6 posted on 11/22/2017 11:35:48 AM PST by NEMDF
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Comment #7 Removed by Moderator

To: VegasVictor
Good post!

I don't want to go anywhere where there are no flushing toilets, toilet paper, hot water showers, refrigerators, etc.

: )

8 posted on 11/22/2017 11:39:47 AM PST by Chgogal (Sessions recused himself for shaking an Ambassador's hand. Shameful!)
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To: VegasVictor

The Big Government crowd hates that.


9 posted on 11/22/2017 11:41:24 AM PST by TBP (Progressives lack compassion and tolerance. Their self-aggrandizement is all that matters.)
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To: VegasVictor

I guess the Middle Class doesn’t deserve a decent tax cut.

Stupid me...


10 posted on 11/22/2017 11:48:52 AM PST by Crucial
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To: montag813

And oh, by the way...he didn’t pay ANY Federal income tax.


He lived until 1937. The income tax was put in place in 1912.

Much of the cities Rockefeller went too were served by horsedrawn vehicles. Filth and disease were common. Sanitation was still being improved. People are far healthier today, and we have much greater ability to heal illness.

What Rockefeller had much more of were personal servants.

We have machines that have become our servants. Washing machines, cooking machines, heating and cooling machines, transportation machines.


11 posted on 11/22/2017 11:57:00 AM PST by marktwain (President Trump and his supporters are the Resistance. His opponents are the Reactionaries.)
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To: humblegunner

One could say the same of you.


12 posted on 11/22/2017 11:59:13 AM PST by Mr. Lucky
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To: VegasVictor
Yes but worse off than families in the 1970s.
13 posted on 11/22/2017 11:59:48 AM PST by Sam Gamgee
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To: Chgogal

Avoid most of Africa and you should be OK.


14 posted on 11/22/2017 12:02:57 PM PST by elcid1970 ("The Second Amendment is more important than Islam.")
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To: Sam Gamgee

No! We’re better off than in the 70’s: no more shag carpet, leisure suits, Harvest Gold appliances, disco, Lava Lites, AMC Pacers, platform shoes, white Afros, etc.

;^)


15 posted on 11/22/2017 12:07:18 PM PST by elcid1970 ("The Second Amendment is more important than Islam.")
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To: VegasVictor

Every day I thank God for what I have, not just on the last Thursday in November.


16 posted on 11/22/2017 12:11:02 PM PST by heights
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To: Mr. Lucky
One could say the same of you.

Nope, sorry, I don't consistently post my own material for profit and then disdain to stick around and discuss it.

You're unlucky today, Mister, but I hope you have an awesome Thanksgiving tomorrow.

17 posted on 11/22/2017 12:19:36 PM PST by humblegunner
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To: elcid1970

“...no more shag carpet, leisure suits, Harvest Gold appliances, disco, Lava Lites, AMC Pacers, platform shoes, white Afros, etc.”

Don’t forget bell bottoms.
Lava Lites are still around in those cheesy catalogs that sell silly stuff.
I remember nasty rumors that there were warehouses in New Jersey packed to the roof with unsold leisure suits.


18 posted on 11/22/2017 12:23:56 PM PST by oldvirginian ("Let others have the present. The future is mine."--Nikola Tesla)
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To: elcid1970

Don’t forget gaucho pants.


19 posted on 11/22/2017 12:24:48 PM PST by wally_bert (I didn't get where I am today by selling ice cream tasting of bookends, pumice stone & West Germany)
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To: VegasVictor

So he lived in a different era. So did Al Capone.

Human progress is what it is. Wealthy people lived quite well for the time they lived in. No, they didn’t have refrigerators, but they had maids and servants, and...I hesitate to say this because it was evil, even slaves.

They lived comfortable lives for their times because they could afford it. That’s the way the world works.

Watch Salaam Bombay if you want to see real desperation and poverty:

https://www.youtube.com/watch?v=wisxdUh2z30


20 posted on 11/22/2017 12:26:32 PM PST by proud American in Canada
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