The other day, I was talking to an acquaintance about economic theory, namely Adam Smith's "invisible hand" concept, which he felt was elegant and revolutionary thinking. Indeed, when you hear it for the first time, it really is, isn't it? Okay so let's talk about this shall we?
Sometimes I think that if anyone participates in free-market capitalism they will see it right away, the economies of scale, synergies, and efficiency, run all by itself, even more efficiently the less it is regulated and interfered with. In fact, it is usually the very people who interfere with it, who then later complain it isn't working, sure enough they are right, mostly because they screwed with it and/or attempted to hijack its flows of labor, capital, money, or production. You should read: "How Capitalism Saved America" by DiLorenzo.
When it came to Ayn Rand and "Francisco's Money Speech" my acquaintance said it was a real eye-opener. Indeed, I would say there is much validity to that. Further, I'd say that what people should understand is that what someone might call wrong with capitalism - is really what's wrong with man. And capitalism takes into consideration human nature and the whole is better served for it, everyone wins. In fact, I guess Gordon Gecko in the movie Wall Street had a few monologues which made us think too.
When governments move to micro-manage our "right to free contract" in the free-market, they restrict the natural flow of goods and services, money and resources, which slows the need for labor and capital, and acts like pesky beavers blocking off the river flow on its way to a hydro-electric plant you see. Adam Smith was right, and we should have listened.
There is no way any government can better guess the needs and desires of buyers and sellers better than those very transactions which dictate intrinsic value and price, and to attempt to do so, and actually believe it is possible is ludicrous and utterly naïve, in fact it shows a complete lack of understanding of free-markets and gives away the regulator, bureaucrat, or politician and less than intellectually endowed or corrupt, not to see the obvious.
Sure, it's a hard concept for anyone who hasn't participated in free-markets, but once one has, they get it instantly, and it is an inherently simple concept at hand. Please consider all this and think on it, better yet, enjoy the fruits of abundance in a capitalistic society.
Lance Winslow has launched a new provocative series of eBooks on Future Concepts. Lance Winslow is a retired Founder of a Nationwide Franchise Chain, and now runs the Online Think Tank; http://www.worldthinktank.net
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