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The price system (when left alone) is the natural expression of supply and demand. The whole market conglomerates as one and by buying and selling things the price reaches an equilibrium. Gov tries to hold prices high to help the producers or low to help the consumers but each instance causes unintended effects that are net negative. Price caps cause supply shock and price floors cause demand shock.

Subsidizing exports defeats the purpose of exports as the goods are basically given away by gov subsidies. If it doesn’t make sense for a business to do it the government shouldn’t either. Parity prices actually hold back progress and inflate prices of goods. As parity is consistent natural growth is often exponential. This applies to all failing industries as death of 1 industry leads to birth of a better one.

Next we address unnecessarily gov jobs, fantasy of full employment, and tariffs. Gov jobs and soldiers on payroll musnt be kept on for the sole reason that they will be unemployed. Full employment musnt be maintained by gov interference. Free market is always more efficient. Same goes for tariffs effect on jobs. They always are net negative because workers are not being the most efficient as a whole. Zoom out.

Next machinery and spread the work schemes are covered. Both follow the same premise and that is that the work to be done is finite. They worry jobs will disappear if machines improve efficiency or that we need to spread the work out so less will be unemployed. Really machines make more efficiency which makes products more affordable which makes more jobs. When work is spread out it makes labor more expensive..

Public spending means more taxes. Taxes take from private wealth so taxes take away from production. When a business owner risks capital he will lose it all if he fails but taxes also take away from the reward. Meaning less incentive to produce and therefore less jobs. Credit can also be seen as the future burden of debt. Gov backed loans often goto less qualified recipients who are less efficient and less productive

Henry Hazlit starts off by telling us what his intentions are in this book and that is to disprove common fallacies that reappear often i different forms. The first fallacy is that destruction creates demand. “Broken window” fallacy. The broken window creates demand for one thing but takes it from something else

Chinaski hasnt been able to commit to anything in his life like he has the post office. Even his affairs with the track run dry as the post office remains the rock of his life, as much as he disdains this. He fills his remaining time with his women and booze as the post office takes a toll on his health.

Sal takes off on his journey to explore the great US and to satisfy his inner urge to find something greater. His journey starts off slow but he quickly adapts to the road and meets his friends in Denver. Afterwards he sets off to meet others in san fran but never quite makes it to an enjoyable destination on the west coast. After a quick fling with Terry n no remaining cash he asks his aunt for money and sets for NY

Many of our habits are built for comfort but not always for success or even for our own best interests. We have to realize our self sabotage habits are normally there to disguise what we are truly afraid of. To overcome the self sabotage we have to address the deeper fears and do what is best for us.

The band got an airplane and went on a huge tour. No stops missed and the bill showed. The band was officially broken up after the financial havoc of the tour and everything else that was growing between then. Gregg finished out his relationship with cher and moved back to the south. Got heavy into drinking but fell in love with the music again. The shell of the band got back together for another album and tour.

Gregg (Gregory as he prefers) goes into his love for women and being with them but just how beautiful they are not necessarily how they effected his music. He did talk about how many problems they brought. Then he meets cher around the time the band is recording the next album. Gregg escapes the band and the egos by spending time with cher in LA and getting married.

Self observation is necessary to realize the “I”s and to realize the ways of self. Self remembering is the act of remembering the Self during the most critical and intense moments of the day, when emotions are high for example. Self observation and self remembering both work to create new pathways that can connect the self to the Self. This improving the ability to connect with the Self easier.

The band reaches the height of success months after Gregs brother Duanne passes away. The band pushes through in his memory but gregg takes a step back in the band as his heart wanders into a solo band where he is able to accomplish a lot of goals. The brothers band is still climbing too but players change.

So far the author has delved into some basic principles of gurdjieff’s teachings in relation to the real self. He states that there is 2 sides to a person. The exoteric and the esoteric. The exoteric is the mind body and emotions that we encounter on a day to day basis and is commonly mistaken as the real self. Most of humanity is in an exoteric state that moves through time as a whole and evolves slowly.

So far we have learned about the brothers journey from playing for free to chasing fame on the west coast. Their deal with the record company kept gregg in LA but Duane just called him back to FL and the Allman brothers band has officially been formed.