Free-Range Kids / Free-Range Capitalism

12+ Everyone told us that having two little boys would lead to carnage and destruction. We lau
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Mark Kahn
Mark Kahn
1 year ago

My Depression-Era parents (older than most as my dad was 40 when I was born in ’64) saw raising a child as a part of who they were, not who they were (IMHO, that distinction is a big part of today’s helicoptering issue). I’m backing into this, but they saw their parental responsibilities to provide the basics (in basic quantities) – food, clothing, shelter, schooling, healthcare (sparingly) and a moral foundation (via the Ring Lardner school, “shut up, he explained”) – other than that, you were on your own. I was told from as early as I can remember that life isn’t fair (but treat people fairly), life is hard, nothing is free, earning money is important (to pay bills, not get rich) and having and supporting your good friends and family matter. When little league was near my home, I played; when the town moved the program many miles away, I couldn’t as my parents weren’t going to become my “chauffeur.” Tough lesson – maybe, but this kid and this adult never thought the world revolved around him. I could go on with a hundred examples that are infinitely interesting to me, but to no one else. Maybe by design, maybe because that was all they were willing to give to being parents (which was plenty, IMHO), but I was well armed for all the kicks, punches, disappointments, cheats and deceptions the life throws at everyone. No, I didn’t see all those blows coming in advance, but because I… Read more »

Mark Kahn
Mark Kahn
1 year ago
Reply to  Rusty Guinn

Thank you

Michael
1 year ago
Reply to  Mark Kahn

Mark – +1 Like (I get errors when I try like your work). As a new parent I found this very inspirational. Thank you for taking the time to share your thoughts. We often underappreciate the dichotomy in “life isn’t fair (but treat people fairly)”.

Henry Peabody
Henry Peabody
1 year ago
Reply to  Mark Kahn

Well said, Mark. Long time, no talk. Hope you are well!

Hubert Horan
1 year ago

The destruction of price discovery is real. The breakdown of the ability of capital markets to allocate resources to uses that create greater value for the economy and society is real. But it remains frustrating to see your myopic focus on how “state actors” use narratives and similar propaganda based techniques to undermine markets and overall economic welfare. These techniques are only available to interests that are well organized, have massive financial resources and are motivated by the potential to significantly increase their power. Where “state actors” are involved (e.g. central banks, the military-industrial complex) they are massively backed by (if not totally captured by) private interests. All of those private interests are working day and night to make sure your imagined ideal of efficient capital markets remains a very distant memory.

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