<>< Josh Rule : : 2008 MCPP Intern

Yeah, we like capitalism here.  And, we are not ashamed of that.  Markets are good things.  So, let’s hear a little applause for Armin Heinrich, a developer for the iPhone who released a new application at the App Store yesterday.  The program, called I Am Rich is designed to nothing other than illustrate to other that you are indeed rich.  The app costs $999.99 and does nothing other than display a small red, glowing gem on the screen.  Oh wait, there is also an information button that can be clicked to provide a mantra, the secret to staying ” rich, healthy, and successful.”

Folks across the blogosphere are up in arms against Apple and Heinrich for allowing such an application.  Yet, this program illustrates one of the great beauties of capitalism – supply and demand.  Not everyone wants to buy the $1000 application, and nobody is forced to do so.  But, the folks who would like to show off their wealth can do so (or could until Apple pulled the app).  People should, for the most part, be allowed to buy what they would like to buy.  If that is an iPhone application that self-admittedly does little to nothing, so be it.

Thanks to Marginal Revolution for this story.