Friday, October 15, 2010

Chile and Capitalism

I am glad to see all the miners in Chile are safe after spending 69 days below the depths of the earth. However, I am glad to see capitalism was at work. Companies and people trying to make money benefit society and don't take something away. The economy is not a zero-sum game but an economic pie that can grow or shrink. Companies in the United States are not only trying to get rich but millions of others around the world are also trying to get rich. Below is a list of how the Chilean miners were saved.

Drill rig- Schramm Inc. (US)

Cable-(Germany)

Fiber optic cable- (Japan)

Communication- Samsung (South Korea)

Self-sterilizing socks- Cupron Inc. (U.S.)


Allowing companies around the world to perform their core competency makes everyone better off and in the case of the miners saved their lives. Maybe 10 or 15 years ago the miners might not have been able to have been saved (since the technology or drill may not have existed). Greed is good and can even save lives.

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