Schramm cites clothing as an example, but there are thousands of good examples. As companies had the ability to reach larger markets, they could invest more into their businesses. The result of those investments was a dramatic increase in the variety of goods available to the public, many of which contribute to better lives, if not longer. Advances in scale, Schramm notes, have resulted in the real cost of staple products being significantly lower today. He cites the Federal Reserve Bank of Dallas: "In 1919, an American had to work 10 hours to afford a basket of 12 food items. By 1997, the work time required to purchase their food basket had fallen to two hours."
Schramm mentions at this point that there have been other contributions, in both science and in the development of public service to protect things like water supply, that have also contributed to increased health and longevity. He feels that entrepreneurs should be on that last as well. To be fair, they usually are, even if specific ones have slipped from public consciousness.
Schramm notes some modern-day entrepreneurs such as Bill Gates for his work on improving communication Thus, by creating value to society that they do not hoard all to themselves, entrepreneurs are social entrepreneurs. He further makes the point that cell phones have revolutionize communications in the developing world...
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