Monday, August 16, 2010

Video: New AmEx Commercial

This new American Express commercial is very cool. The jazz version of reveille alone makes the commercial (pun not intended but worthwhile) worth a watch.

Enjoy the video first, then consider some things below:



The commercial illustrates the variety and indispensability of the commercial diversity that underpins our economy. In an country of 300 million plus consumers, the amount of voluntary cooperation and free exchange of individuals acting out of their own self-interest, making millions of decisions on a minute-by-minute basis is truly astounding. The commercial shows a handful of individuals applying their time and talents for specific purposes. Imagine how many individuals, actions, and decisions it requires to produce and distribute goods and services to 300 million consumers.

What is more astounding is to believe any sector of the economy can be planned for and directed by a government bureau. The impossibility of such a task is a lesson of history, one highlighted by F.A. Hayek in The Road to Serfdom.

We would do well to remember such lessons, not shun them, particularly when we consider the health care needs of so many millions of individuals.