HURRAH FOR FREE MARKET CAPITALISM


“The basic idea is that if we put our blind faith in the market and we let corporations do whatever they want and we leave everybody else to fend for themselves, then America somehow automatically is going to grow and prosper.”

–Obama.*

Yea. That is the basic idea.

Capitalism saved those miners.

Not a centralized government run by Harvard educated super-geniuses. Nope. It was something called the Center Rock drill bit.

This is the miracle bit that drilled down to the trapped miners. Center Rock Inc. is a private company in Berlin, Pa. It has 74 employees. The drill’s rig came from Schramm Inc. in West Chester, Pa. Seeing the disaster, Center Rock’s president, Brandon Fisher, called the Chileans to offer his drill. Chile accepted. The miners are alive.

Longer answer: The Center Rock drill, heretofore not featured on websites like Engadget or Gizmodo, is in fact a piece of tough technology developed by a small company in it for the money, for profit. That’s why they innovated down-the-hole hammer drilling. If they make money, they can do more innovation.

I wonder if the owner of the company is making over $250,000? Because if so … well, fair is fair, right?

This profit = innovation dynamic was everywhere at that Chilean mine. The high-strength cable winding around the big wheel atop that simple rig is from Germany. Japan supplied the super-flexible, fiber-optic communications cable that linked the miners to the world above.

And the Obama administration provided … well, they didn’t provide shit.

*Obama quote snagged by Lemon kitty in Ace’s comments.

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