Thursday The concept of a middle class is very new. It emerged in England during the Industrial Revolution. From there it spread throughout the UK and then outward to what became known as the Western world. Since time immemorial, there had been the few who were strong (rich) and the many who were weak (poor). The strong took from the weak and that was … [Read more...]
The Law of the Jungle
Monday The concept of a middle class is very new. It emerged in England during the Industrial Revolution. From there it spread throughout the UK and then outward to what became known as the Western world. Since time immemorial, there had been the few who were strong (rich) and the many who were weak (poor). The strong took from the weak and that was just … [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...]
The New Rich
Thursday There is a popular idea that when the depression hits hard, most of the wealth will continue to exist and that it will just change hands. In other words, smart people who saw this coming and hoarded Gold and silver will gain ownership over all the riches – ‘the greatest wealth transfer in human history’, blah, blah, blah. It is balderdash. An … [Read more...]