I have to confess, I never heard/read that before, but it is absolutely brilliant.
It IS brilliant...it highlights the human tendency to look for outside blame for failures or underachievement rather than looking within. Or even to blame nobody (not self or others)...hard things are just a part of life.
SBW,
Perhaps Capitalism, Socialism and Democracy. His work is much more accessible either Mises or Hayek (aside from Road). He was rather pessimistic regarding the probable outcome of the competition.
[OT, but not really] I have been listening to a summary about the ideas of economist Joseph Schumpeter, written in the 1930s. What book might be the best summary of his work?
Schumpeter suggests the greatest failure of capitalism was not to recognize that the commercial marketplace rewards innovation and entrepreneurship and that those who cannot succeed there, retreat to live on in self-perpetuating outposts of pre-capitalist institutions like academia, journalism, and government, where, credentialed by themselves, they do not create discontent, but channel it by asserting self-validating criticism that undermines the commercial marketplace in which they cannot survive.
Schumpeter's conclusion: The country needs to reexamine its prejudices. [OT]