#1 Bill Gates’s shrewd decision, at a young 25 years old, to license his software to IBM and not sell it.
#2 Henry Ford’s perfection of the mass production assembly line. Applying the concepts of animal slaughter in reverse. Genius.
#3 Samuel Colt’s application of precision manufacturing and interchangeable parts to gun manufacturing—unleashing the “American System” of manufacture
#4 FDR’s decision to allow US War Industry to remain private industry and earn a profit, thereby out-producing all other countries combined during WWII. “Arsenal of Democracy.” There were Democrat requests for the government to takeover war production at the start of the war. He didn’t listen to any of that. Wish they’d teach this free enterprise story in school.
#5 Central Pacific and the Union Pacific Railroad Companies building a transcontinental railroad, using private monies with help from government bonds, changing the economics of the USA forever. Was economically bigger than putting a man on the moon in 1969
#6 Government Action Impacting Business: Deregulation of Trucking, Airline and Telecommunication industries and not over-regulating the Internet unleashing innovation and lower costs. [Jimmy Carter doesn’t get enough credit, IMHO.]
#7 Invention of the 401(k) Using a Loophole in the US Tax Code, unleashing a whole industry and new generation of savers. Related: Merrill Lynch’s invention of the Cash Management Account (CMA), thus bringing competitive interest rates to millions.
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