My only object, writes Leonard Read, is to gain a better insight into the miracle of the free market. Unfortunately, many persons who are capable of improved insights regard the free market as crass and materialistic and, thus, unworthy of their thoughtful attention. On the contrary, I contend that there is no higher cultural pursuit — be it music, art, poetry, drama, or whatever — than acquiring an appreciation of the mysteries of the free market. This phenomenon, I believe, is a reflection of spiritual forces at work. At least this radical contention deserves a hard look. FULL ARTICLE
Source link: http://blog.mises.org/9685/the-miraculous-market/
The Miraculous Market
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Thank you for this article! Finally, someone that understands the role of advancing productivity in advancing society. Every small gain adds greater value to the economy. This is real value and this value will take our economy to the next level which is UP.
While we are all focused on AIG, Government Spending, TARP, TALF and Toxic Assets, we have lost sight of the true driving force in the market. It isn’t money supply, it is the individuals working and constantly coming up with those “think of thats”. And those individuals continue to develop those ideas and actually expand ideas during tough times.
Reading, I just had to wonder what he would have thought about a I-Pod.
Which one(s) contains Read’s famous anti-war screed, “Conscience on the Battlefield”?
Interesting that the essay began with a reference to Brahms. Most of the world’s great artists died in poverty. Inventors don’t do much better. Read someplace that Bill Gates never wrote a decent line of code (he bought DOS for pittance). It is the money changers who usually come out on top.
And someone sold DOS for pittance. I’m glad Bill Gates bought it. I might not have read this if he hadn’t.
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