Basketball can teach us about capitalism - & not in the big $$$ churned by the NBA & NCAA. Capitalism is a lot like a single-loss tournament, such as the NCAA tournament that will start in a couple of weeks (or like Indiana high schools used to have). 1/36
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we can establish a framework that empowers family farms and small businesses to succeed.” 6/36
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Adam Smith “is perceived, through his best-known book, An Inquiry into the Nature and Causes of the Wealth of Nations, as the founder of economics as a science.” Ross, The Life of Adam Smith, 1995. Smith’s two-volume work was published in 1776. 7/36
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