archives : August 2011


Human beings are driven to improve their socio-economic circumstances. They utilise whatever resources of material and intellectual capital they have to address their condition of unlimited wants. They engage in economic transactions with fellow humans. Those who produce goods and services sell them to those who need them. A spontaneous order exists. And that is how Friedrich Hayek, the late Austrian economist, described the free market. - Tuesday 23 August 2011

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