Thursday, October 15, 2009

Standing at the Gate Waiting . . .

The market at work on the fringes:

Karl Marx invented the word "capitalism" as a pejorative, but it is simply what happens when people enter into exchange with one another. Does it need controls? Yes, but only those controls that insure or restore its health and its fairness, not those which are secretly or open hostile to it. Every attempt to crush the market has resulted in tyranny at the top and a black market at the bottom, the black market being simply the market system eking out an existence as best it can.

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