From: M
Sent: Saturday, August 24, 2019 10:34 PM
To: Walter <[email protected]>
Subject: Check out this TED Talk!
Dear Prof. Block:
What is your opinion of this Ted talk?
Ping-pong and the riddle of victory (Pico Iyer | TEDSummit 2019)
Dear M:
In the free enterprise system, every commercial interaction creates two winners, no losers, and no ties. I buy a shirt for $20. I value it by more than that amount, say, $25, otherwise I wouldn’t buy it at that price. So, I gain $5. The seller values it by less than that amount, say, $12, otherwise he wouldn’t sell it at that price. So he gains $8. That’s ALL that free enterprise consists of: voluntary interactions. Only an economic illiterate, or an evil person, could oppose this system of natural liberty.
I don’t think this speaker has too high an opinion of laissez faire capitalism. He and I thus disagree.
4:38 pm on September 19, 2019