WOW, did anyone see the Amazing Race last night? It is my favorite reality TV show. I am particularly glued to it this season because I know someone on it Kelly McCorkle. (Okay, I just worked with her for two weeks with Victory 2004.)
I think her and Ron has done a great job and they might just win the race. Last night they started off in last place and ended in 2nd place. They did everything just about right. Except Kelly should have let Ron drive the bus but, I digress. Kelly we are rooting for you to go all the way. If you don't win then Rob & Amber cheated!
Don't forget that next Tuesday night is the finale! Tune in and root for someone from SC.
Tuesday, May 03, 2005
Monday, May 02, 2005
The Entrepreneur As American Hero!
I am going to give everyone an assignment today. The assignment is to sign up for The Imprimis magazine produced by Hillsdale College. Now before you tune me out it is FREE! Hillsdale college is dedicated to the free market enterprise and this magazine has a lecture by prominent people that is inspiring and uplifting. They are also all online at http://hillsdale.edu/imprimis.
I am going to give you a highlight of one by Walter Williams last month. You may read the whole article by clicking here.
Think about that. It is 100% true. Capitalism will force people to use their resources in the best possible way. It might take some time, but after a while they will go out of business if they don't. We also learn that government is not the solution, but the problem most of the time.
I am going to give you a highlight of one by Walter Williams last month. You may read the whole article by clicking here.
Profits also force producers to employ resources wisely. If producers waste inputs, their production costs will be higher. In order to cover their costs, they must charge prices higher than what consumers are willing to pay. After a while the company will incur unsustainable losses and go out of business. As a result, the company's resources will become available to someone else who'll put them to wiser use. This process is short-circuited if government offers bailouts in the forms of guaranteed loans, subsidies or restrictions such as tariffs and import quotas on competitive products from abroad. Government "help" enables failing companies to continue squandering resources. In this context it is important to remember that a business going bankrupt doesn't meant that its productive resources will vanish into thin air. It means someone else will own them.
Think about that. It is 100% true. Capitalism will force people to use their resources in the best possible way. It might take some time, but after a while they will go out of business if they don't. We also learn that government is not the solution, but the problem most of the time.
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