Saturday, July 20, 2013
When One Barn Closes, Another One...
The invention of the tractor ultimately put thousands of farmers and farm hands out of work. And, yet, I don't know of a single individual who currently thinks that this was a bad invention/trade-off..........................................................................So, what in the hell did all of those farm people eventually end up doing? You might have heard of it. It's a little something called something else. Yep, that's right, folks, when you allow for such things as free markets and free trade to materialize, our comparative advantage will in fact occur in the form of newer and often unforeseen opportunities. You just got to be prepared for the things.
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4 comments:
Yep, ain't that the truth...
The unions have a storied history of opposing technology and innovation. I'm half surprised that they haven't tried to outlaw the sun.
Right now, at least in Michigan, unions are too busy warring against worker rights. The sun can shine, for now.
Have you ever read Bastiat's "The Petition of the Candlemakers"? I consider it one of the greatest works ever and him one of the greatest economists ever.
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