Ph.D. Student Debunks Socialism Using Basic Economics! Marcel Gautreau & Keith Knight

by | Oct 31, 2021

In reality, most of the great fortunes in American history have resulted from someone’s figuring out how to reduce costs, so as to be able to charge lower prices and therefore gain a mass market for the product. Henry Ford did this with automobiles, Rockefeller with oil, Carnegie with steel, and Sears, Penney, Walton and other department store chain founders with a variety of products.

 

Thomas Sowell, Ph.D., Basic Economics: A Common Sense Guide to the Economy (2014, Basic Books) p. 165

Marcel Gautreau is a PhD student at George Mason University and a Mises Institute Research Fellow.

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About Keith Knight

Keith Knight is the creator of the Don't Tread on Anyone podcast and Odysee channel.
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