Archive for the 'deep thoughts' Category

Making Money is My Religion

Saturday, May 16th, 2009

Maybe “religion” is too strong of a word, but it is my philosophy of life. Why? I’ll tell you:
I have asked myself “What is the purpose of life?” And since I do not yet know, I believe that my current purpose of life is to find out the purpose of life. How do we do that?
I think technological progress helps us to understand our universe. The more we know, the closer we are to understanding our purpose. So, for now, the purpose of life is to understand more - to bring us closer to understanding our universe. Once we understand our universe, we can know our purpose. And technological progress helps us to understand more, so technological progress is a noble pursuit.
The free market fosters technological progress. Any time you are paid money in exchange for something of value - any time that you work to earn money - you are helping humanity to progress. It is helping us all to understand more about our place in the universe.
I believe in the invisible hand of the free market. When we all work separately, but together, we can do things that are impossible for an individual (just like Milton Friedman explains in the video I posted before).
Money, to me, is not what you can buy with it. Okay, from a practical point of view that is exactly what money is. It is whatever you can get in exchange for it. And that is important. It can mean the difference between life and death. But if you are looking for meaning in your life, it isn’t found in the things you can buy with the money you have. The importance and real value of money is how you make it.

On the Free Financial Markets

Thursday, April 30th, 2009

This quote from this article annoys me:

The financial markets operate on the principle that, at our core, we’re all basically shit: selfish, self-interested creatures.

That’s a little too pessimistic for me. And the tone of the article is self-righteous. The free market operates on the principle that it is in the best interest of us all to pursue our own self-interest. There is a big difference, and it is actually a beautiful thing that what I do in my own interest is actually best for everyone in the world.
I could provide examples, but Milton Friedman says it better:

Also, it seems like the author of the article is blaming the financial markets for his atrocious behavior and suffering, and not taking responsibility for his own actions. It isn’t the free market that made him or the others act the way that they did. Look at Warren Buffet - does he act like these idiots? No, and he has made a thousand times more money than they ever did.

Milton Friedman on the morality of pursuing profits

Tuesday, October 28th, 2008

Milton Friedman: Free to Choose 10 of 10

Sunday, October 26th, 2008

Milton Friedman: Free to Choose 9 of 10

Saturday, October 25th, 2008

Milton Friedman: Free to Choose 8 of 10

Friday, October 24th, 2008

Milton Friedman: Free to Choose 6 of 10

Wednesday, October 22nd, 2008

Milton Friedman: Free to Choose 5 of 10

Tuesday, October 21st, 2008

Why not just ban all selling?

Friday, September 19th, 2008

EOM

Thought for the day: The Invisible Hand

Tuesday, August 26th, 2008

From The Wealth of Nations:

It is not from the benevolence of the butcher, the brewer, or the baker that we expect our dinner, but from their regard to their own interest. We address ourselves, not to their humanity but to their self-love, and never talk to them of our own necessities but of their advantages.