Re: [Kudlow] In Praise of Economic Freedom.

Dave Long (
Thu, 30 Dec 1999 00:56:21 -0800

> What IS interesting in the last 10 years especially is that a new class
> of rich -- the rich from technology -- will exert a lot more control
> over the government of the next 100 years

His belief in novelty is far too utopian -- I seem to recall that
the "rich from technology" also existed at the turn of the last
century; no doubt we could find examples from at least another 100
years prior, if not another 4000.

> So here's the virtuous cycle: economic freedom incents entrepreneurial
> freedom which begets innovation which in turn creates more economic
> freedom and prosperity.

This may indeed be a virtuous cycle, but if it were that easy, the
early greeks, or the renaissance italians, or the mercantile dutch,
(or perhaps even the antebellum southern planters), or the imperial
british should still be out-prospering the rest of the world.