Tuesday, November 08, 2011

Great point - we don't have to have a fixed pie

I like this thought:

Most economic fallacies derive from the tendency to think that there is a fixed pie—that one party can gain only at the expense of another.”
-Milton Friedman


Luke said...

Something just struck me while reading this: Perhaps this is because we are trained to become workers, who trade our time for money. We don't actually see value creation, we see a trade and hope that it's fair. Instead, we should be trained to see value creation in work. By offering this product or service, I am bettering the life of another for a few dollars they earned by adding value to someone else's life.

When I think of work like that, it makes way more sense that we can keep making pies and not just fight over the crumbs of the current one.


Henry Cate said...

Good point.

This video makes a similar point.