History’s Greatest Evolution  PDF Version

Of all that has taken place in mankind’s history, which of those things have had the greatest positive influence over the quality of human life?

It is my observation that this phenomenon occurred between  the end of the dark ages and the early part of Britain’s industrial revolution. Two developments occurred almost simultaneously.

First it was discovered that more could be accomplished  by people in groups when each one pursued his own goals independently as opposed to working under a leader in pursuing a common goal.

Second is the concept of freedom of the common man. I listed this one second  because freedom wouldn’t have been granted to the masses, unless it was more profitable to hire free people instead of owning them. These two developments are what created free markets.

In modern times, it has become fashionable for economists to believe that simple little items like this don’t matter. What does matter is the act of ignoring them. Every attempt to stimulate an economy or assure future growth, etc. ….requires reversing the logic of the two greatest developments in mankind’s history, We live within the realm of a managed economy. This reduces the freedom of each individual and reduces their utility to society as a whole.

Any government intervention into an economy creates a negative outcome in terms of potential. It renders its citizens less than what they would be, if they made their own decisions.

Some things are too simple to put in an economics textbook. Natural law as a whole is simple. That’s why it is assumed to be useless.

Views: 76