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You may wish to consider that title snarky, but I love living in a world where someone has the incentive, and ability to profit from, delivering me goods and services like this one. Say what you will about the productive capacities of centrally planned economies, it is almost surely the case that no one has the incentive to “discover” the patterns of specialization and trade related to earphone friendly shirt buttons without the incentive structures we have in place in most Western Democracies. Do we think that there is enough “pride” and love of their fellow man to stimulate this kind of regular innovation without market institutions?

 You may say, “it’s just an inane silly button.” And to which I say, “indeed, it is an inane silly button! And we still got it. Imagine how powerful the incentives are to deliver other things.”

One Response to “Sunday Morning Thanksgiving – Great Moments in Capitalism”

  1. Harry says:

    Say what you will about the productive capacities of centrally planned economies?

    That’s a flashback to the ’60’s! Professor Blinder’s class, reading Gosplan! Nothing like fresh ideas to get the juices flowing!

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