David Carradine found dead in Thailand hotel
The star of the 1970s TV series “Kung Fu” whose career roared back to life when he played the assassin-turned-victim in Quentin Tarentino’s “Kill Bill,” was found dead Thursday in Thailand. A published report said he committed suicide.
In the conflict of man vs. nature, sometimes man wins.
I saw this Mises quote on the LvMI community forum.
Here is Mises on this matter from “Planned Chaos” (http://mises.org/web/2714#Ch.3)
“The market is a democracy in which every penny gives a right to vote. It is true that the various individuals have not the same power to vote. The richer man casts more ballots than the poorer fellow. But to be rich and to earn a higher income is, in the market economy, already the outcome of a previous election. The only means to acquire wealth and to preserve it, in a market economy not adulterated by government-made privileges and restrictions, is to serve the consumers in the best and cheapest way. Capitalists and landowners who fail in this regard suffer losses. If they do not change their procedure, they lose their wealth and become poor. It is consumers who make poor people rich and rich people poor. It is the consumers who fix the wages of a movie star and an opera singer at a higher level than those of a welder or an accountant.”
–Mises
In the past, I have promoted this idea as market as democracy, but now I believe it is quite false. The market is not a democracy as popularly understood.
Continue reading Markets are not democratic
