Messrs. Gilder and Lekachman mostly talk past each other (GG: "Avarice is
ubiquitous. Capitalism occurs in some places. Avarice does not suffice to stimulate capitalism ... Avarice leads to a search for safety and security and comfort..." RL: "There are people who go to Las Vegas and play blackjack ... there are people who buy stock or, if they are corporate officers, commit their corporations to investments of various kinds, and they're gambling too with calculations of odds"), but WFB steps in with useful clarification, e.g., "If I determine to build a cheaper mousetrap in order to line my pocket, but in the course of creating a cheaper mousetrap I make it possible for you to purchase one, I have committed an objectively altruistic act for selfish motives. Now why do you assume there is an incompatibility between those two concepts?"
- Hoover ID: Program S0447
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