The “Evil” of Capitalism, in One Chart

That 5bn people have a phone & 2.5bn already have a smartphone is a huge achievement of, mostly, free markets and permissionless innovation.

A great chart tweeted by technology analyst Benedict Evans of Andreessen Horowitz:

To which Evans adds: “That 5bn people have a phone & 2.5bn already have a smartphone is a huge achievement of, mostly, free markets and permissionless innovation. … It’s been clear for a decade that access to communications transforms prospects for the poorest. A phone *does* put food in your belly.”

And if that chart doesn’t do it for you, maybe this one will:

Thanks trade and investment. Thanks capitalism.

Learn more:

• 700 million humans have moved out of deep poverty in the 21st century. Thank capitalism
• If you think trade deals have ruined the American economy, reconsider
• 2 disturbing charts on world trade and economic openness

Reprinted with permission from AEIdeas.