Ever wondered why many of the world thinkers fiercely hate free markets and capitalism as it has been practiced for years? This essay by Robert Nozick can offer some substantial leads and hypotheses. It's quite long for on-screen reading, yet worth the time.

Nozick speculates that intellectuals, namely those who produce words (writers, philosophers etc.) in quantities feel superior to the rest of us, and therefore can't comprehend that they are not "rewarded" by the society accordingly. Also, their scholarly years mislead them into believing that rewards are based on merit and value. As soon as they enter the real world and begin to feel the invisible market forces, they soon develop a strong animosity towards them.

Indeed: merit and value are relative to the level of demand. Reward does not automatically match value. The art of selling might be rewarded more than the art of writing, and that's how it is.

It's just that used-car salesmen don't think they are superior to writers.

Hat tip: Marginal Revolution