Economists continue to debate the extent to which free markets are truly efficient.
It seems to me that two things are certain:
free markets are remarkably efficient at …
1. accumulating wealth, and
2. consolidating power.
Beyond that, it seems to me that free markets are not that efficient at all.
In the glance of a speechless animal there is a discourse that only the soul of the wise can really understand.
— An Indian Poet
While in graduate school at Purdue many years ago a friend and I made a road trip to the west coast. Along the way we took the opportunity to visit the Grand Canyon with a goal of hiking down to the canyon floor. Although we were experienced hikers, neither of us were in the best of shape, and we were further weakened by the several days we had just spent driving across the country in a Honda Civic. Hiking all the way down to the canyon floor and all the way back up in a single day was strongly discouraged by the park authorities. Since campsites on the canyon floor were reserved far into the future, we were fortunate to snag a reservation for a campsite that was a couple of miles up from the canyon floor on a different trail. Our plan was to hike down one trail all the way to the bottom, take in the grandeur, then hike back up a few miles to camp for the night. The next day we would hike back out and continue our westward journey.
Any fool can destroy trees. They cannot run away; and if they could, they would still be destroyed, chased and hunted down as long as fun or a dollar could be got out of their bark hides, branching horns, or magnificent bole backbones. Few that fell trees plant them; nor would planting avail much towards getting back anything like the noble primeval forests. During a man’s life only saplings can be grown, in the place of old trees – tens of centuries old – that have been destroyed.
Like many in my generation, I devoured J.R.R. Tolkein’s Lord of the Rings with great relish. The metaphors, archetypes and stories from the rich world of Middle Earth continue to resonate through my mind many years after my last reading. One of my favorite creations is the sentient, intelligent, and wise race of Ents. These humanoid trees spoke too slowly and at a frequency too low for humans to perceive. They moved through the forest at a pace too slow to be perceptible.
Some years ago I hiked with a friend to a sacred Native American burial ground in the mountains of Northwest New Mexico…
Choose your rut carefully, you’ll be in it for the next 50 miles.
— Highway sign
According to folklore, the above sign was spotted on the Alaskan highway. Or perhaps it was posted along the highways in the 20’s and 30’s, before blacktop became prevalent. Regardless of the source, it has served as an apt metaphor many times in my life.
Each day we are faced with thousands of decisions: what to have for breakfast, what to wear, when to work out, how much time to spend surfing my RSS feeds. Most decisions have very short-term implications and can be corrected if errant.
Occasionally decisions arise that have much longer-term implications: whether or not to take that new job, move to that new city, attend a certain college or purchase a particular car. In these cases, deliberation pays dividends. When I find myself facing such decisions I classify them with the “Choose your rut carefully” label. It may not be the most glamorous metaphor but it helps me take the time I need to make solid decisions.
A ship is safe in the harbor, but that is not what ships are built for.
— William Shedd (or possibly Rear Admiral Grace Murray Hopper)
I taught high school in the early 80’s. I had this quote hanging on my classroom wall in one of those inspirational-type posters with a sailboat setting out to sea. I suppose I was trying to inspire my students to reach for adventure as they launched themselves into the world. I still draw inspiration from these words every time I am faced with the choice of a challenge and an adventure or playing it safe.
If you can’t be a pine at the top of the hill,
Be a shrub in the valley – but be
The best little shrub by the side of the hill;
Be a bush if you can’t be a tree.
If you can’t be a bush, be a bit of grass,
And some highway happier make;
If you can’t be a muskie then just be a bass,
But the liveliest bass in the lake!
We can’t all be captains, some have to be crew,
There’s something for all of us here;
There’s work to be done, and we all have to do
Our part in the way that’s sincere.
If you can’t be a highway, then just be a trail,
If you can’t be the sun, be a star;
It isn’t by size that you win or you fail,
Be the best of whatever you are.
— Douglas Mallock