Daily Archives: 29 May 2009

Worldview Item of the Day

The Economist has a great article up about why the American economy works without overbearing government regulation: the dynamism of a system where people and businesses are allowed to succeed and fail in unending repetition based on opportunity.

The reason the American economy works is the same reason that living beings work. The human body, as an example, is constantly rebuilding itself by killing off malfunctioning cells and structures and replacing them with new cells and structures. In the economy, the failure of businesses creates opportunities for new business or for the growth of businesses in other areas than the ones that have failed. […] Continue reading →