Wright Bros Showed Us How To Do It
By Anthony J. Mountjoy | Thu, 02 Jun 2016 08:00:00 EST
Risking life and limb was no reason to keep sleeping when man was meant to fly.
Wilbur and Orville Wright made the first controlled, sustained flight of a powered, heavier-than-air aircraft on December 17, 1903, four miles south of Kitty Hawk, North Carolina.
In the process they demonstrated a key element of what would become the quintessential western spirit of innovation. While many dream, it's those who take the risk who get the reward.
A merit based system keeps innovations coming and costs down
. Unlike the top down models offered by central planning schemes, the risk is contained to those directly involved yet everyone benefits.
The results of Capitalist activity disseminates into the broader markets opening up further opportunities. Free enterprise encourages anthropic involvement and doesn't depend on trade secrets the way socialist constructs do. It inspires whole industries of millions of benefactors. It benefits from the advancement of its collaborators more than the hording of discoveries to fence off future opportunities for itself. Such activities are the beginning of the end for that Free Enterprise and it will become something else entirely soon enough.
The string of ancillary commerce shouldn't be ignored either. Several custom components were needed by the Wright brothers as their various experiments evolved. Every nut and bolt was penny spent and a penny earned. Capitalism at its very best inspires the genius of the most creative minds to action.
One of the most compelling reasons to keep exchanges free is that the byproducts of a good deal can often have even greater value later which again raises the inherent value of people being able to make deals. That's good for business. If a professional exchange or admin structure gets involved then the honey is invariably licked away in fees and taxes long before its time. This diminishes the long term compound return to make today's returns look better. This is an inflationary force.
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