Hazlett on the Madness of e-Crowds

Josh Wright —  7 February 2007

This piece by my colleague Tom Hazlett is really the best thing I’ve read online all week and has been getting some attention across the blogosphere (see, e.g., here and here) and I’m happy to contribute by posting Hazlett’s characteristically powerful punchline:

The point is not that “closed” beats “open,” but that capitalism accommodates both. Rules need not be changed to embrace the revolution. Markets thrust revolutions upon us, boldly and magnificently, far more often than we care to remember.