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Random Thoughts

November 16, 2012

Wealth is what’s created when people enter into “mutually beneficially exchanges”.  If both parties feel they’re getting more than they’re paying, they’ll trade.

Government always claims a monopoly on force in the society.  That’s why they’re so hard to get rid of and why they do more telling and less asking as a norm.

Part of the US Constitution’s genius was creating competition between the three co-equal branches of the federal government, competition between the states and the federal government and competition between the states themselves.  Monopolies always hurt people, even government monopolies.

Business monopolies harm both their own customers and those that refuse to trade with them.

“Crony Capitalism” is the opposite of the real thing.  Instead of open competition between companies for the affections and trade of customers we get partnerships between business and politicians to insulate each other from competition.  The business gets monopoly “rents” and the politician gets campaign financing.  Only the public interest that gets screwed.

“Creative Destruction” is wonderful, unless you’re the one being creatively destroyed.



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