Michael Waltrip Quotes


Related Quotes

What Mises says in this quotation is true. What he does not say that by the time the automobile was developed and then the airplane, the Railroad monopoly had impeded and destroyed so many different entities that the governments had cracked down and curtailed much of the ability of the Railroads to exercise monopolist power. If the Railroads had as much power in 1920 as they did in 1870, there probably never would have been a thriving auto industry and the airlines would likely never have succeeded. Mises again exaggerates a basic point that large monopolistic companies and industries often have not been able to stave off new technology and approaches. While true in many cases, the cause is not necessarily fundamental to economics but has sometimes (as with the railroads) been caused by Government regulation and reform. A better example is that the large sail dominated shipping industry was not able to stop the coal fired steam engine ships. Indeed the shipping owners embraced the new technology. The best examples of Mises point occurred after Mises died. For example, Microsoft was not able to prevent Google from dominating many of Microsoft’s positions in the IT world.


Michael Waltrip
Michael Waltrip
  • Born: April 30, 1963
  • Nationality: American
  • Profession: Driver

Michael Curtis Waltrip is an American former professional stock car racing driver, racing commentator, and published author. He is the younger brother of three-time NASCAR champion and racing commentator Darrell Waltrip. Waltrip is a two-time winner of the Daytona 500, having won the race in 2001 and 2003. He is also a pre-race analyst for the NASCAR Cup Series and color commentator for the Xfinity Series and the Camping World Truck Series broadcasts for Fox Sports. He last raced in the 2017 Daytona 500, driving the No. 15 Toyota Camry for Premium Motorsports.