Quote 964“Kirzner argues that even good luck should be rewarded. Because the market is a discovery process in which people do find opportunities and possibilities that others have not, the profits of doing so should rightly belong to the discoverer. That will, after all, encourage other people to act entrepreneurially, take risks, and discover more opportunities and possibilities that will benefit others.”The theory goes something like this. Each person being born is like a lottery, we each have one lottery ticket. But some people are born into money and good health and are lucky, and others are not. We don't choose to be here, but if we did, we would probably want a system where the more lucky ones helped out the less lucky ones, not knowing which we would be. This kind of makes sense. But...
|
 |
|