30.4.15

THE ACCUMULATION OF SMALL ADVANTAGES.

Dan Hannan of Washington Examiner makes the Trenchant Observation of the Day. "Like most successful people, Bill Gates became rich by persuading lots of poorer people to buy something from him; in consequence, we are all better off."  Microsoft operate on more generous margins than Wal-Mart or McDonalds or J. C. Penney back in the day, and yet the general principle holds.

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