Thursday, June 16, 2011

It's Like a Baseball Game

About once a day I hear someone complain that capitalism is "flawed" and  "imploding". Capitalism is not "imploding". What is imploding is the system of distortion caused by governments trying to thwart the workings of capitalism -- i.e. substituting political goals for economic ones.

Imagine the Commissioner of Baseball instructed the umpires to change how they called plays whenever a game was not producing the outcome he wanted. Most of the players would stop playing the real game of baseball and start playing the game the Commissioner had in mind each day. When attendance and profits started dropping, somebody would inevitably complain that the game of baseball was fundamentally "flawed" and "imploding".

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