How an Economy Grows and Why It Crashes


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how an economy grows

H O W   A N   E C O N O M Y   G R O W S   A N D   W H Y   I T   C R A S H E S
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Of course, others may not see the mutual benefi ts as clearly. 
What if, upon seeing Able’s sudden expansion of wealth, 
Baker and Charlie grew envious and demanded a portion of 
his savings? 
Imagine this alternative scenario:
Baker fretted, “Look at that guy lording it over us with his 
fancy palm-leaf tuxedo, while we sweat it out in the waves 
every day wrangling slimy fi sh. Hasn’t that guy ever heard of 
charity? Couldn’t he just spare me a fi sh or two so I could 
take a day off once in a while? He’s got so many fi sh piling 
up, he’d never even know one was gone.”
To some it may appear that Able used his advantage to 
exploit his needy neighbors. And while it’s true that he made 
a profi t without working, it doesn’t mean he gets something 
for nothing. Able’s profi t is his compensation for the risks he 
takes. What’s more, his ability to profi t doesn’t hinder the 
advancement of his peers. 
Because of Able’s desire to make a profi t from his savings, 
Baker and Charlie got the opportunity to build nets without 
having to under consume. If they succeed, they will have 
improved their economic futures without having to go hungry. 
The rest will be gravy… or more accurately, fi sh oil. At that 
point, they themselves will have excess capital. If they fail, and 
are unable to pay back the loan, it’s Able who takes the loss.
Essentially, the lender can benefi t only if the borrower benefi ts. 



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