The laws of economics and morality are set. They are not to be molded or shaped, only discovered. The marketplace does not bode well for those who choose to make up their own rules. In a world of clear economic laws, there will always be winners and losers. This is to the benefit of us all.
Respect for Universal Law is the Mark of Civilization – Steemit
Podcast: Play in new window | Download
A lack of consideration for the future is what distinguishes Keynesian economics. Spend, consume, and become indebted because the day of reckoning and the pain of reality can always be pushed to future generations to deal with. Kenyesians are like children in that they do not consider the conservation of scarce resources and consume into indebtedness even when funds are no longer available.
This is in striking contrast to most businesses that must obey Economic law. Such businesses cannot continue to operate at a loss without immense suffering. The painful reality eventually reveals all unsustainable practices.
In the long run we are all dead.
John Maynard Keynes
Keynesian Economics is a Puerile Philosophy – Steemit
Podcast: Play in new window | Download
We do not know the desires and needs of individuals. Only those individuals can make that choice for themselves. This is reflected in one buying gift cards or giving money as a gift rather than giving a specific item. Another example is hurricane/natural disaster victims needing money or else ask them what they specifically need. Another example is sending free shoes to Africa rather than advocating for their freedom to work and start businesses as they so choose so they can lift themselves out of poverty. Yet another example is fighting for less working hours and more vacation time via union activity in 3rd world countries without adequately understanding human action.
Humans are not mathematical equations. They are sentient beings with free will. They must be respected as such. One cannot assume to know what another sentient human being considers valuable or prioritizes. That is committing the fundamental folly of the violent ruler who rules by force and coercion.
True Humility is Leaving Others to Live in Freedom – Steemit
Podcast: Play in new window | Download
The circle of life as it relates to nature (dead plant matter), business, and the economy is such that resources are always conserved and can never be destroyed. In the natural world there is a clear cycle of birth, growth, death, and birth. There is no waste. All resources are conserved. Even in death resources go to support new life.
As it is in the natural world so to it is in the economic world. Businesses are born, grow, perish, and new businesses are born. It takes a vast amount of resources to start a new business and attempt to provide value. Through their patronage or lack thereof only the consumers can decide if the market is well served by this new business. If the market rejects it then it is by definition an inefficient allocation of scarce resources and its best value to the market is in death. This frees up those scarce resources to be used by other intrepid and bold entrepreneurs to try their hand at serving the market.
This natural process can be interfered and meddled with only when coercion and force is introduced into this magnificently functioning symphony i.e. the State. At this point it becomes a cacophony of zombie undead institutions, artificially propped up and unnaturally maintained. Reality can be staved off only for so long. To believe resources are not scarce does not make them so. Statism is a self-destructive ideology, from whose ashes a wonder will emerge of epic proportions that will catapult human progress to the stratosphere and beyond. I look to the future with bright and hopeful eyes at what magnificent splendor awaits us.
The Cycle of Life and the Cacophony of Statism – Steemit
Podcast: Play in new window | Download
An analogy can be drawn of the tragedy of the commons as it relates to giving many children a pile of chips and letting them free to fight for the chips. Everyone hordes as many chips as possible for himself/herself. The strong always beat the weak and take the most, fighting often ensues.
The solution is private property where everyone is allotted a specific amount of chips, no fighting ensues. Everyone understands that there is no public pile of chips to fight over.
In a world of scarce resources and infinite desires there must be a rational way to allocate these scarce resources so their value is not wasted and plundered. Private ownership by means of 1st user rights, homesteading, or gifting may solve this problem. Individuals take care of their property and ensure that it remains viable and sustainable for future use.
Tragedy of the Commons and Potato Chips – Steemit
Podcast: Play in new window | Download