Why it works 1

Are the concepts of our own economic system in the U.S. (and generally in the West) still taught in our schools? That's a good question. 

Years ago, I realized that I had never been taught the foundations of economic freedom and didn't even know what "free enterprise" means. Going back to 2016, there are some posts that can fill in the gaps in our understanding. I'm going to re-post a few of them.

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"Trade"

Trade enables us to enjoy better quality of life. If we couldn't trade with each other but had to make everything we need, we might starve to death. But if each of us is free to specialize, we all have a skill or product to trade (buy and sell) with people who have something we want.

That's really simplified, but true to the basic rationale behind trade.

What if you had to make your own, say, chicken sandwich from scratch? It would take much more than a couple of minutes at the fast food window. Here is one man's personal experience with this idea.



It's easy to forget the work and organizing behind a simple product.

(cont'd tomorrow)