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Home: Gary J. Wolff's Blog: Free Enterprise "Frees" 33 Chilean Miners

Free Enterprise "Frees" 33 Chilean Miners

The rescue of the Chilean miners is a smashing victory for free-market capitalism. It's a remarkable story about all the astonishing private-sector equipment & devices that magically appeared in the Atacama Desert from the distant corners of capitalism.

The superstar? The amazing 21-inch Center Rock drill bit, which is the miracle bit that drilled down to the trapped miners. Center Rock Inc. is a private company in Berlin, Pennsylvania with 74 employees. The drill's rig came from Schramm Inc. in West Chester, Pennsylvania.

The 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.

High-tech kept Chilean miners in touch with the surface
High-tech kept Chilean miners in touch with the surface
(Source: Associated Press)

Samsung of South Korea supplied a cell phone that has its own projector. Cupron Inc. of Richmond, Virginia supplied socks made with copper fiber that consumed foot bacteria, and minimized odor and infection.

In an open economy, you never know what is out there on the leading developmental edge of this or that industry. But the reality behind the miracles is the same: Someone innovates something useful, makes money from it, and re-innovates, or someone else trumps their innovation.

This creates jobs, wealth, and well-being....whether it's success stories as big as Google or as small as 74-employee Center Rock which helped save the 33 Chileans.

In the words of Ronald Reagan, "We must not look to government to solve our problems. Government IS the problem."

Government needs to get the hell out of the way, off the backs of small business, and let the free market work its magic. Speaking of which, how does your Congressman stand on extending the Bush tax cuts?

What's needed now is a new American economic model that lets the capitalist innovators rescue the rest of us. I can hardly wait till the upcoming election on November 2nd (a choice between paychecks & food stamps), when we kick out all the socialist Democrats in Washington D.C. and send them packing.

Source: "Capitalism Saved the Miners" by Daniel Henninger, deputy editor of the Wall Street Journal's editorial page


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