The Dao of Capital: Austrian Investing in a Distorted World

by Mark Spitznagel

Bastiat chafed at arguments that power in the hands of the state was meant for the good of all, and mocked such thinking by wryly envisioning a beneficent state to dispense “bread for all mouths, work for all hands, capital for all enterprises, credit for all projects, salve for all wounds, balm for all sufferings, advice for all perplexities, solutions for all doubts, truths for all intellects, diversions for all who want them, milk for infancy, and wine for old age—which can provide for all our wants, satisfy all our curiosity, correct all our errors, repair all our faults, and exempt us henceforth from the necessity for foresight, prudence, judgment, sagacity, experience, order, economy, temperance and activity.”7 The mere notion of it collapses under the weight of its absurdity.

So iism