This is the shortest and easiest economic lesson you can ever learn. Lack of progress results in lost opportunity and poverty. Of course, you will want to have some examples. Well, history has demonstrated that the only thing that separates a successful civilization versus a not so successful civilization is their ability to progress.
Inventions gone wild
So Edison comes up with the light bulb and attempt to introduce it to cities across America. All of a sudden, people begin complaining that electricity and light bulbs would ruin the candle and lamp industry. Let’s say that we as a society listened to this argument and said “NO” to the electricity and the light bulb. Where would be today? Hmmm no cars, computers, planes, street lights, microwaves, AC, cell phones, applications, tv, radio, cable, dishwasher, garbage disposal, trucks, traffic lights, motorcycles…. Well, you get the picture. We would be living like the Amish. Some people will say that it was obvious that electricity would have benefited so many but there are other examples. For instance, what if Henry Ford came along with the car and people said “NO” because the horse and buggy industry would fail which gave jobs to stables, wheel makers, coach makers, manure cleaners, etc.. Would it be reasonable to forgo the car that would dramatically make life better just to save some jobs? Furthermore, the rest of the world will not agree to this and America would have lost its competitive advantage.
What about today?
The people of Scranton should be clear about one thing. The reason there are little opportunities in Scranton is because the local government blocks the progress of any advancement for selfish reasons. If you don’t believe me, just take a trip to any major city and ask why doesn’t Scranton have the same opportunities? Also, keep in mind that NYC has next to no manufacturing taking place in that city but still manages to bring in 3 trillion dollars a day! Progress!!!!!