Every time I see a snippet from the Wall Street Journal I want to just.... well, stab something. It's self defense for that little piece of me that is dying on the inside.
Just to show you how easy it is to point at the Wall Street Journal and show examples on how it's a bad place, here's this god awful article that states without sarcasm that the Chilean miners should thank Capitalism for getting them out of there..
It needs to be said. The rescue of the Chilean miners is a smashing victory for free-market capitalism.
Amid the boundless human joy of the miners' liberation, it may seem churlish to make such a claim. It is churlish. These are churlish times, and the stakes are high.
In the United States, with 9.6% unemployment, a notably angry electorate will go to the polls shortly and dump one political party in favor of the other, on which no love is lost. The president of the U.S. is campaigning across the country making this statement at nearly every stop:
Wonder Land Columnist Daniel Henninger and Americas Columnist Mary Anastasia O'Grady analyze the Chilean rescue.
"The basic idea is that if we put our blind faith in the market and we let corporations do whatever they want and we leave everybody else to fend for themselves, then America somehow automatically is going to grow and prosper."
Uh, yeah. That's a caricature of the basic idea, but basically that's right. Ask the miners.
If those miners had been trapped a half-mile down like this 25 years ago anywhere on earth, they would be dead. What happened over the past 25 years that meant the difference between life and death for those men?
Short answer: the Center Rock drill bit.
This is the miracle bit that drilled down to the trapped miners. Center Rock Inc. is a private company in Berlin, Pa. It has 74 employees. The drill's rig came from Schramm Inc. in West Chester, Pa. Seeing the disaster, Center Rock's president, Brandon Fisher, called the Chileans to offer his drill. Chile accepted. The miners are alive.
Longer answer: The Center Rock drill, heretofore not featured on websites like Engadget or Gizmodo, is in fact a piece of tough technology developed by a small company in it for the money, for profit. That's why they innovated down-the-hole hammer drilling. If they make money, they can do more innovation.
This profit = innovation dynamic was everywhere at that Chilean mine. The high-strength cable winding around the big wheel atop that simple rig is from Germany. Japan supplied the super-flexible, fiber-optic communications cable that linked the miners to the world above.
A remarkable Sept. 30 story about all this by the Journal's Matt Moffett was a compendium of astonishing things that showed up in the Atacama Desert from the distant corners of capitalism.
Samsung of South Korea supplied a cellphone that has its own projector. Jeffrey Gabbay, the founder of Cupron Inc. in Richmond, Va., supplied socks made with copper fiber that consumed foot bacteria, and minimized odor and infection.
Chile's health minister, Jaime Manalich, said, "I never realized that kind of thing actually existed."
The profit = innovation dynamic was everywhere at the mine rescue site.
Podcast: Listen to the audio of Wonder Land here.
That's right. In an open economy, you will never know what is out there on the leading developmental edge of this or that industry. But the reality behind the miracles is the same: Someone innovates something useful, makes money from it, and re-innovates, or someone else trumps their innovation. Most of the time, no one notices. All it does is create jobs, wealth and well-being. But without this system running in the background, without the year-over-year progress embedded in these capitalist innovations, those trapped miners would be dead.
Some will recoil at these triumphalist claims for free-market capitalism. Why make them now?
Here's why. When a catastrophe like this occurs—others that come to mind are the BP well blowout, Hurricane Katrina, various disasters in China—a government has all its chips pushed to the center of the table. Chile succeeds (it rebuilt after the February earthquake with phenomenal speed). China flounders. Two American administrations left the public agog as they stumbled through the mess.
Still, what the political class understands is that all such disasters wash away eventually, and that life in a developed nation reverts to a tolerable norm. If the Obama administration refuses to complete free-trade agreements with Colombia, South Korea and Panama, no big deal. It's only politics.
But that's not true. Getting a nation's economics right is more important than at any time since the end of World War II. Chile, Colombia, Peru and Brazil are pulling away from the rest of their hapless South American neighbors. China, India and others are simply copying or buying the West's accomplishments.
The U.S. has a government led by a mindset obsessed with 250K-a-year "millionaires" and given to mocking "our blind faith in the market." In a fast-moving world filled with nations intent on catching up with or passing us, this policy path is a waste of time.
The miners' rescue is a thrilling moment for Chile, an imprimatur on its rising status. But I'm thinking of that 74-person outfit in Berlin, Pa., whose high-tech drill bit opened the earth to free them. You know there are tens of thousands of stories like this in the U.S., as big as Google and small as Center Rock. I'm glad one of them helped save the Chileans. What's needed now is a new American economic model that lets our innovators rescue the rest of us.
I also have an old high school friend who recently put on their facebook page what seems like the most ignorant of statements concerning capitalism.
Isn't life strange? I never met one Veteran who enlisted to fight for Socialism.
fffffuck. Well then, I guess that settles that. Obama and his socialist agenda could kick flip his way out the door.Maybe you're not aware of this but the trapped group of miners tried to originally escape through a ventilation shaft system, but the ladders required by mining safety codes were missing and the shaft later became unusable during subsequent geological movements. The company had previously been ordered by supervisory authorities to install ladders as a condition of restarting operations, after an earlier accident had caused authorities to close the historically accident-plagued mine. So you see, the free market didn't work. At least completely unchecked it didn't.
It's also pretty important to note that it was a state-owned Codelco company that dug out the miners, not San Esteban, the company that ran the mine. Why was that? Well, you see they didn't have enough money to launch the very pricey effort at saving human life. They didn't even have enough to pay the miners wages while they were trapped down there for the long period of time.
So that in itself should be more than enough proof that Socialism is far better than Capitalism.
It was probably due to the market capitalism that the miners were down there in the first place. Considering the history of the American mining industry, capitalism without regulation tends to produce an effect of seriously shortening the life-spans of miners. I mean, how many mining incidents do you hear about in West Virginia alone. Go to your nearest Red Box and rent October Sky. Aside from having an actor that looks like me in it, the movie shows you what the life of a miner is like.. and sadly the only difference between the period piece is that there's far fewer jobs for the locals.
But fuck, to give credit to Capitalism for this rescue? What the fuck man. Someone better get Capitalism on the line, There was a China Mine Accident Leaves 21 Dead, 16 Trapped
Oh wait, they're the People's Republic of China... that's a fucking red state! Fuck 'em! I can see the CNN coverage now
CNN: "Chilean mine disaster, miners trapped!"
Americans: "Oh my god, what a tragedy (reports every fucking update)"
CNN: "Chinese mine disaster, miners trapped, many dead already"
Americans: "Fuck them pinko chinks!"
For the record, how the fuck does Capitalism even work in this field of mine rescue? It's probably only a good way to lose money to trap people miles underground to have to pay someone to rescue them. It's a pretty unsustainable business practice and only helps in making it seem like capitalism is going by faster and faster.
The whole article is such a bullshit piece of crap. It wasn't the free market or unregulated capitalism that saved the miners. Even suggesting that would be an insult to what it really was. A simple drill bit that an American company produced. Not because of capitalism as the company exists in what conservatives consider a regulation heavy environment.
So in short - fuck this campaign to thank Capitalism for this rescue of poor miners we stuck down there to begin with.
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