alee228 Posted December 20, 2010 Report Share Posted December 20, 2010 Quote Link to comment Share on other sites More sharing options...
alee228 Posted December 24, 2010 Author Report Share Posted December 24, 2010 Ridley starts with the simple observation that exchanging one object for another is an activity unique to human beings. The implications of this are quite profound. People trade because it allows them to save time and labour, and the ability to trade means that people tend to specialise in providing certain types of goods or services. The ability to specialise and trade allows people to compete, and competition encourages people to develop new technology and ideas. Trading goods and services which embody new technology allows everyone to benefit it. As each new innovation becomes available in the market people have the ability to improve upon it or to create a completely new innovation which then competes in the market with the old one. Over time, human society evolves as the most useful ideas survive and the older less useful ones die out. Quote Link to comment Share on other sites More sharing options...
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