Mises Economics Blog: Austrian Economics and Libertarian Political Theory
Great post from the Mises Blog...
Isn't Capitalism Great?
Sheldon Richman
This month in 1979 Sony introduced the first Walkman (initially called the Soundabout), a small portable cassette-tape player designed to be used with headphones. It was priced at $199.95. In today’s dollars that’s $540. Today, of course, you will spend considerably less for a product that is considerably better. A Sony CD Walkman at Best Buy costs $50. Lesser-known brands can be had for about 20 bucks. MP3 players are more, but that will be temporary. Par for the course even in a badly hampered capitalist economy.
Great post from the Mises Blog...
Isn't Capitalism Great?
Sheldon Richman
This month in 1979 Sony introduced the first Walkman (initially called the Soundabout), a small portable cassette-tape player designed to be used with headphones. It was priced at $199.95. In today’s dollars that’s $540. Today, of course, you will spend considerably less for a product that is considerably better. A Sony CD Walkman at Best Buy costs $50. Lesser-known brands can be had for about 20 bucks. MP3 players are more, but that will be temporary. Par for the course even in a badly hampered capitalist economy.
posted by Champion at 9:35 AM
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