from Cafe Hayek Don Boudreaux writes An Intellectual Identifies Yet Another Mysteriously Unexploited Profit Opportunity [1]
Excerpt:
I believe that I’ve put my finger on what ails the American economy! The people who possess the information, insight, wisdom, and vision to identify profit opportunities are people who lack the interest and practical skills necessary to exploit these opportunities, while the people with the interest and skills necessary to exploit profit opportunities are people not only themselves singularly lacking the information, insight, wisdom, and vision to identify profit opportunities, but who are also too stupid to heed the investment and other business tips forever being dispensed to them by the likes of James Surowiecki and other intellectuals who do know where such opportunities are. It’s a damn shame that those who most clearly see profit opportunities either will not or cannot take advantage of them, while those who are eager and able to take advantage of such opportunities remain incurably blind to them. Perhaps business people should spend more time reading the likes of the New Yorker and the New York Times, as well as attending seminars at prestigious universities.