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Money is NOT God… Only People Help People…

August 31, 2014

Larken Rose: I happened to just see a post in which someone was asking for book recommendations so he could study economics. While there are some great explanations, I would say the first two “sources” you should reference are: 1) yourself, and; 2) your life. Some people seem to think that economics is some magical, mystical fields of thought which only “the experts” could possibly understand. But the basics are available to all of us, every day. It’s just cause and effect, and human nature. And most people have enough experience that if they would THINK about things, instead of choosing which “theory” to blindly believe, they would understand 95% of economics.

Example #1: If someone ELSE–someone you don’t even know–was going to reap the rewards of your efforts, and you wouldn’t, would you work harder, or not as hard? Answer that, and you’ll know why communism is economically idiotic.

Example #2: Would you rather have a simple but nice-looking chair that someone made in a few hours, or some ugly, uncomfortable atrocity that someone spent weeks making? Answer that, and you’ll know why the “labor theory of value” is stupid.

Example #3: If everyone stands in a big circle, and hands money around as fast they can, does society get richer? Answer that, and you’ll know why trying to measure prosperity by measuring spending alone is stupid.

Example #4: If we destroy all the wealth in the world, thus necessitating lots of work to rebuild it all, which would provide lots of jobs for people, will that make us rich? Answer that, and you’ll know why Keynes was an idiot.

Example #5: Does the world get richer if you blow up your house? Answer that, and you’ll understand how stupid it is for people to claim that war-mongering helps the economy.

Example #6: If you forcibly prevent anyone from hiring anyone else for less than $100,000 a year, will that help the poor? Answer that, and you’ll know why the “minimum wage” is both immoral and stupid.

Example #7: If we pay all the unemployed people to carry big rocks around in circles, does that make society richer? Answer that, and you’ll know why “make-work” programs and obsessing over “full employment” is hugely misguided (to put it nicely).

Bonus Question: If the workers at some factory kill the factory owner, take over the factory in a communist uprising, and then vote that they all get paid ten times as much as before, what happens?

Yes, there are some people whose books simply expand on rational thought and obvious realities, such as “Economics in One Lesson” by Henry Hazlitt. And this can help people think clearly. But if someone tries to sell you some convoluted, twisted “theory” which doesn’t reflect how YOU behave and what YOU see, then chances are it’s bullpoop.

Response: True, but money in and of itself is a poor means of distribution of materials and assets relative to those in need. It inhibits access, it doesn’t create abundance through scarcity just artificial speculation of abstracts instead of real world materials and the people to make things WORK! –FWO.

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