Thinks 252

Balaji Srinivasan: “Technology is the driving force of history. Technology favored centralization in the US from arguably 1754-1947 (join or die in the French and Indian War, unified national government post-Civil War, railroads, telegraph, radio, television, movies, mass media in general, and mass production) and is now favoring decentralization from roughly 1947 to the present day (transistor, personal computer, internet, remote work, smartphone, cryptocurrency).”

The Invisible Hand Relies Upon Visible Prices: by Donald Boudreaux. “Just as the market order is essential to our survival, prices expressed in money are essential to the market order. Prices are among the visible results of the invisible hand’s successful operation, as well as the single most important source of this success. Each price objectively summarizes an inconceivably large number of details that must be taken account of if the economy is to perform even moderately well.”

Santosh Desai: “The liberalisation narrative today is vexed by paradoxes. Creativity thrives as does deep hate arrived at shallowly. Identities become multiple and fluid, even as the world shrinks around our most primal identities. The individual realises herself more fully, while losing herself in many new collectives. We are highly networked and deeply lonely. Getting what we want is much easier, knowing what we want is becoming a problem. Choices free us while crippling us with anxiety. We can escape everything but ourselves. We are at the centre of our own universe but it has been created for us by the market. We can act in ever diverse ways but are divided along increasingly narrower lines. The more liberal our markets get, the more illiberal our minds.”

Published by

Rajesh Jain

An Entrepreneur based in Mumbai, India.