Tuesday A market is composed of free people interacting with one another in the exchange of goods and/or services. The degree of prosperity created is directly proportional to the degree of freedom. Complete freedom means that all are free to act in their own self-interest in order to achieve an outcome that is optimum for the concerned parties in the prevailing … [Read more...]
Poverty and Wealth
Tuesday “Ultimately it is only wealth that can reduce poverty.” Thomas Sowell There is a great deal of blather about reducing poverty by this or that measure and about how to better organise society to achieve this supposedly desirable outcome. Personally I like having some poor people around because they maintain my garden cheaply. Practically … [Read more...]
Society as a Construct
Thursday Social engineering schemes always fail. As the 20th century English philosopher Ringo Starr eloquently noted: “Everything the government touches turns to shit.” My Starr was quite correct. Since the dawn of human society, centralised control, in one form or another, has always, eventually, collapsed that society. But why is that? The usual … [Read more...]
19th Century Prosperity
Tuesday At the turn of the 20th century, governments turned their backs on Gold. It is no wonder the ‘working class’ became revolutionaries. Lacking an understanding of how they had been shafted, they turned to Marx. A classic case of ‘out of the frying pan and into the fire’. The below is extracted from Dawn of Gold. 19th … [Read more...]
Wealth Inequality
Sunday Take away the ability to trade freely and what appears in its place is corruption. The more regulations, the more pervasive the corruption. When buying and selling are controlled by legislation the first things to be bought and sold are legislators. P. J. O’Rourke Today, the economies of the Western world are burdened with regulations sufficient to break the … [Read more...]