Sunday A real business is either a response to an existing market demand, or a response to a predicted market demand. Both have the potential to create wealth. There is a third type of business. These are brought into existence in order to comply with, or avoid, regulations or taxes. Examples would be such things as tax accountants, bookkeepers, tax lawyers and … [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...]
A Fair Day’s Work for a Fair Day’s Pay
Friday Society is undergoing a radical transformation that is more profound than the Industrial and Computer Revolutions. These created not only vast amounts of new wealth, but also vast amounts of new jobs. Many of the benefits of those revolutions are still with us, but the jobs have gone; not just new jobs, but a lot of old jobs. Governments in the western world … [Read more...]