Tuesday, October 14, 2008

Economics For The New World Order: Argh Matey!

o Marxism: the belief that if I have the scalpel and book I am qualified to do brain surgery.

o Communism: the belief that if I need brain surgery, any surgeon can do the job.

o Socialism: the belief that everyone needs brain surgery.

o Capitalism: the belief that I can sell enough books and scalpels to enough surgeons that I can buy enough insurance to pay for brain surgery whether I need it or not

It is the theory of scarcity or in the new web version, no market where scarcity exists is interesting to an investor.

Except there are two scarcities that are more or less permanent: good ideas and talent. Then there is training but it is resolvable given talent. Good ideas appear to be at a fixed scale so these have become the treasure the pirates set their masts toward.

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