Business and Flow of Information: "Adapt or Die"

The crucial legal foundation of the free market is the right of private property: ownership. This implies that at the heart of free market liberty is the right of making exchanges: the right of disownership.

This quote is from an interesting article by Gary North, "Adapt or Die (in the Unemployment Line)." It explains how technology and the every increasing free flow of information is changing the market. These are important principles and current realities to grasp. It is helpful to those who are considering how to start their own businesses in the current economic state and evolution. The article is also helpful for understanding how the free market works (for example, how unions helped move businesses out of the country). Here is his conclusion:

At the heart of the free market social order is this principle: the right of exchange. This implies the right to bid. The right to bid produces a universal response: price competition. The free market extends its dominance by means of price competition. Price competition is at the heart of the extension of liberty.

So, use those smart phone aps. Use Google. Look for a better deal. As a shopper, you would be wise to learn the tools of information-gathering

When you see what deals are out there, you will see that the flow of information is increasing. The offers are increasing. Price competition is increasing.

This should lead you to a conclusion as a producer, meaning a seller: either adapt or die. You do not own your customers, any more than you, as a customer, are owned. You are a free agent. So are they. You are looking for better deals. So are they.

You can stand on the edge of this revolution and wring your hands. You can cry out: "Unfair competition!" This will not save you from extinction. It will only slow you down.

"Public Education Is Going Down"

I am working with a young man who turned 18 in December. You know what he got for his birthday? A B.A. degree from an accredited college. His parents paid for tuition: under $15,000. The college awarded him his degree for work performed. He did the whole thing at home.

Is this a better way to go to college? You bet it is.

Are more parents going to figure this out? I hope to persuade them.

Is boola-boola at a distant campus worth $100,000 or more, plus five years instead of four? Not to wise parents and students.

Is earning a college degree at 18 better than earning a high school diploma? That family thought so.

What do you think?

This is the beginning of Gary North's prophetic article "Public Education Is Going Down." Fascinating.