Capitalism Save the Miners

Capitalism Save the Miners
October 14, 2010 by Jeffrey Tucker

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."

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

http://blog.mises.org/14234/capitalism-save-the-miners/