25 August 2012

Markets Cannot Dream

Speaking of dreams, today we lost one.  Neil Armstrong, who gave world ‘giant leap’ with his 1st footprint on the moon, dies - The Washington Post

As a teenager when they landed, it was the one big thing we all dreamed. Divided by war and race and generational tensions, there was precious little that made us all hopeful then.

Kinda like today.  But what do we have to dream about that is larger than we are.  if as William James said, “the secret to a meaningful life is to spend it on something larger than your own,” then a nation has to dream about something bigger than itself.  Right now, we focus on things smaller than we are, guns and gays and taxes and sex. Our leaders are absorbed in tinkering with things picayune, pecuniary, penitential and petty.  And as we all know, if dreams are the things we become like - even in failure - then small dreams makes us less not more.

Markets do not dream.  To become something great requires outrageous dreams that defy common sense and good business.  Going to the moon was just that.

Was it foolish? Undoubtedly.  Was it wasteful? Immeasurably. 

Was it useless? Essential! 

And today, the one link to that last wild dream is gone. 

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