Thursday, October 6, 2011

In Honor Of All The Consumer Welfare Steve Jobs Created: RIP

I read that Steve Jobs net worth was around $8 billion. I do not know if that is accurate or not, but it seems to be a credible amount. That amount is less than $30 per person in the US and significantly less than $30 per person if one includes the people of the other countries where users also enjoy Apple products.

People who have IPhones, IPads, IPods, and Mac computers and laptops probably do not mind paying $30 (actually more since only buyers pay) to Steve for all the pleasure and productivity Apple products give them. These people probably feel that it was a bargain.

Hooray for capitalism because it creates consumer welfare. Hooray for capitalism because it rewards successful entrepreneurs who enrich our lives through their innovation and products. Hooray for Steve Jobs who found a way to create consumer value in his ideas. Hooray for Steve Jobs because his successful products and successful wealth accumulation are a motivation to future innovators.

How sad that our schizophrenic culture loved Steve Jobs, loved his products and his company, yet hates successful and rich businessmen. How sad that our President, many in our Congress, and State and local governments despise business success (except when they need political donations) and do their best to build barriers and degrade incentives for future achievements and successful innovations.

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