Obama on Auto-Defrosting Refrigerators - Jeffrey A. Tucker - Mises Daily

Obama on Auto-Defrosting Refrigerators - Jeffrey A. Tucker - Mises Daily: "All evidence suggest that the truth is precisely the opposite of what Obama claimed. Frost-free freezers came about in the normal market way. A company found a way to package it as a luxury good available in some markets. Another company saw the advance and emulated it, offering it to still other markets (though the process was likely slowed by the government regulation called the patent). Other companies saw the potential for solving a monstrous household problem and began making them more cheaply and more efficiently, as the target market gradually went from luxury to mainstream. Over time, the improved product was ubiquitous."