Thursday, October 14, 2010

Sprinkling away the warehouse fire

Daniel Henninger, Wall Street Journal:

In an open economy, you will never know what is out there on the leading developmental edge of this or that industry. But the reality behind the miracles is the same: Someone innovates something useful, makes money from it, and re-innovates, or someone else trumps their innovation. Most of the time, no one notices. All it does is create jobs, wealth and well-being. But without this system running in the background, without the year-over-year progress embedded in these capitalist innovations, those trapped miners would be dead.

If only everyone who was mortally confined to their place of work had the benefit of more capitalism!

3 comments:

Ethan said...

And the obvious comment: without "this system running in the background," or for that matter in the foreground, they wouldn't have been down there in the first place.

Anonymous said...

Miners have always been on the receiving end of advancing technology. Occasionally they had to strike and be slaughtered to get the benefits of the "non-productive" variety but that was a small price to pay for the blessingss technology conferred.

Charles F. Oxtrot said...

Don Blankenship.

Massey Energy.