Wednesday Society evolved from tribalism. The process was simple, though unique to one place and time. Basic trading between tribes had always occurred. It was the emergence of money, with its unique property of being a store of stable value over time, which took trading to a much more sophisticated and complex level by allowing for the accumulation of … [Read more...]
Socialism – The Final Shudder of a Degenerative Process
Wednesday 1 Free people create wealth (capitalism). 2 Governments begin to tax and regulate 3 Taxes and regulations degrade freedom and begin to strangle the economy. 4 Legislative distortions divide society into winners and losers. 5 The economy begins to fail. 6 In the effort to keep the show on the road, central banks … [Read more...]
The Duality of Money
Tuesday Keith Weiner makes the distinction here between the two roles of money. Most people see money purely from the income/spend perspective, but that is not money’s only role, in fact, it is not even money’s primary role. Many things can successfully be used as a medium of exchange; only surplus money (capital) can be used to build more wealth and also convey wealth … [Read more...]
What is Work?
Saturday Work is physical or mental activity that adds value to the economy. Such things as digging ditches for necessary drains, building roads to somewhere (as opposed to bridges to nowhere), writing software code for a start-up, cooking a restaurant meal, growing wheat etc. There are many other sorts of activities, such as the play of the young, amateur sports, … [Read more...]
Fractional Reserve Banking 2
Thursday Or should that be: Fractional Reserve Debunking? I first put up this article in January of this year. Utter nonsense about the dangers of FRB are still being published so I'm putting it up again. Fractional reserve banking (FRB) has received much coverage over a long period, yet it remains a contentious area prone to misunderstandings. Probably because it is … [Read more...]