Probably as many as fifty per cent have received advanced degrees in one or another field. These young men and women are far above average. All are talented, a few gifted, and here and there an undoubted genius. I work with eight hundred to a thousand people of this caliber every year. Perhaps one in a thousand can relate the myriad bits of data learned in school to the realities of human existence in this world.
Free enterprise leads inevitably to monopoly.
These seminar attendees did not invent these anxieties. They learned them at the feet of their professors, many of them professors in economics. It Is Futile to Argue I have learned from experience that any attempt to dispute these conclusions by direct debate is largely futile. However, if I can go to the beginning to point out the realities undergirding all economic theory, then I have a chance of showing that an entirely different set of conclusions is warranted. While that definition is adequate, it lacks impact and immediacy.