Free Markets (12) - Dreams and Reality

The market is the place where dreams and reality meet.

The managers of Ford dream about the success of their latest vehicle. They have spent millions of dollars on development of the new model and hope it will be the new Mustang. It hits the market, just after the release of an offering from Chrysler that is better and cheaper. The reality of the market turns the Ford dream into an Edsel.

A young man dreams about getting work at the local Ford plant. He will be set up for life, with a good lifestyle. When he is forty-five, the factory closes. Reality destroys his dream.

Another young man dreams about writing a novel. He is not very hopeful of success, but when the book hits the market it proves to be a bestseller, changing his life. Reality exceeded his dreams.

Thomas Edison dreams about using electricity to light up offices and homes. After many failures, he develops a light bulb that works effectively. Reality matches his dream and his dreams grow. The people of the world enjoy something that they had not dreamed was possible.

Every dream needs to be tested, but this is very risky, because sometimes dreams fail in the face of realty. The only way to avoid this risk is to leave your dreams as dreams.

A risk-free world is only possible for people who are willing to live in their dreams, but the world of dreams is actually a world of poverty.

Progress needs people who will dream big dreams. Even more, it needs people like Thomas Edison, who will test their dreams against reality by bringing them to the market again and again.

Some people would like to change the market so that dreams do not fail. This is like changing the football game so no one is injured. It could be done, but the game is no longer football. The only way to prevent dreams from being hurt by the market is to push reality out, but ignoring reality is dangerous.