Amid market volatility, ongoing PIIGS debt woes and political rancor the last few months, it’s easy to forget the fundamental force for good that is capitalism. However, the passing of one of the world’s most “insanely great” capitalists on Wednesday seems an appropriate time to pause and remember.
No Ivy elite was Jobs. He lasted six months in college and couldn’t see the point of wasting his parents’ money further. And when Steve moved his dad’s car out of the garage so he and buddy “Woz” could become their own bosses, he couldn’t possibly know the vast implication of his choice. He simply set out to create unique products that people wanted to buy. And in doing so, he helped usher in a PC revolution that changed almost everything about the way we operate today. His work helped democratize computers out of the laboratory and workplace and move them into homes and schools—and palms. And in that way, Jobs didn’t just create wealth for himself, his company or its many employees—his innovations created societal wealth and good.
That’s the power of unencumbered capitalism in the United States or anywhere else—anyone with an idea and some gumption can create, enrich and better the world around them. For example:
Pretty awesome for a college dropout who just wanted to make “cool” products in his dad’s garage. We ask the critics of capitalism: Would the world be a better place without the entrepreneurs, innovators, visionaries and, yes, capitalists like Steve Jobs? In our view, no chance.
If you would like to contact the editors responsible for this article, please click here.
*The content contained in this article represents only the opinions and viewpoints of the Fisher Investments editorial staff.