Free Markets Make Life Better

From the American Enterprise Institute:

1. The percentage of low-income households with a computer rose to 47.7% in 2009 from 19.8% in 2001.

2. Appliances? The percentage of low-income homes with air-conditioning equipment rose to 83.5% from 65.8%, with dishwashers to 30.8% from 17.6%, with a washing machine to 62.4% from 57.2%, and with a clothes dryer to 56.5% from 44.9%.

3. The percentage of low-income households with microwave ovens grew to 92.4% from 74.9% between 2001 and 2009. Fully 75.5% of low-income Americans now have a cell phone, and over a quarter of those have access to the Internet through their phones.

Clearly, the average percentage of their income that people spend on necessities has decreased steadily over the last 50 years.  Why does this matter?  Because people who spend less on necessities have more left over to spend on things they actually want.

What makes this possible?  Free markets do.  Free markets force manufacturers to innovate or die, thereby making their products more affordable.

Does it matter that an increasing percentages of Americans can afford refrigerators, microwave ovens, dish washers, clothes washers and dryers?

Of course it does.  If you don't believe me, try living without them.