Capitalism Saved the Miners

October 19, 2010 at 8:37 pm | Posted in Lifescape | Leave a comment
View Opinion Journal’s video (7:23) with Dan Henninger at link

http://online.wsj.com/video/opinion-journal-capitalism-saves-miners/3050DF90-879C-41C7-B372-A1F6A542C58C.html

clipped from blog.mises.org

A fantastic piece in the WSJ by Daniel Henninger.

If those miners had been trapped a half-mile down like this 25 years ago anywhere on earth, they would be dead. What happened over the past 25 years that meant the difference between life and death for those men? Short answer: 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.

And there were other contributions: cell phones, socks, cables, and much more, from all over the world – innovations from the private sector. Meanwhile, Henniger writes, the US President is running around denouncing people’s “blind faith in the market.”

clipped from blog.mises.org

  • Wartime Powers over the Internet
  • clipped from blog.mises.org

  • Why I Choose Low-Quality Health Care
  • clipped from blog.mises.org

  • Illusions of the Age of Keynes
  • Leave a Comment »

    RSS feed for comments on this post. TrackBack URI

    Leave a Reply

    Fill in your details below or click an icon to log in:

    WordPress.com Logo

    You are commenting using your WordPress.com account. Log Out / Change )

    Twitter picture

    You are commenting using your Twitter account. Log Out / Change )

    Facebook photo

    You are commenting using your Facebook account. Log Out / Change )

    Google+ photo

    You are commenting using your Google+ account. Log Out / Change )

    Connecting to %s

    Create a free website or blog at WordPress.com.
    Entries and comments feeds.

    %d bloggers like this: