9/30

Economics begin when we stop producing for ourselves

Competition - If you don't have competition, nothing gets better, no pressures
Imitation, Learning - When you see something else making a product, you can make it yourself and make it better
Division of Labor - Know more and more about less and less.

Need these:
Government to protect with police and courts.
National defense
Public goods

And these:
Right to property (contracts are binding, you can't have personal property taken from you)
Division of labor
Exchange is PEACEFUL
NO special privileges!