Those politicians and commentators who push the idea that billionaires need to “give back” or pay their fair share do not understand that there is nothing to “give back” and that the “fair share” has already been contributed to society. A fair exchange took place; value for value, with the capitalist giving a good or service and the consumer reciprocating with a transfer of funds.
True “paycheck fairness” is only possible in a market that is open to all, and where participation is both voluntary and unrestricted. That is, in Oppenheimer’s words, where the economic means prevail and the political means have been abolished and forgotten.
Because opinion polls do not reveal people’s constrained wants, it is illegitimate to use polls to guide government policy-making. But what are elections if not polls? In elections as in polls, no individual’s vote determines policy outcomes. Therefore, voters typically vote with less prudence and shrewdness.
It is the characteristic of capitalism that the efforts of a small group of savers, technologists and entrepreneurs compound for the benefit of the majority, who enjoy the high standard of living and material comfort that result. Yet the majority, while enjoying the outcome of capitalism, do not understand its mechanisms.
The technology race will always exist between the government and those who are not working for the government. Governments are most likely spying on you right now. The National Security Agency (NSA) from the U.S. has legal permission to collect private data in multiple ways.
Self-resourcing means examining what you know, who you know and what’s at your disposal to utilize in value creation: what knowledge, which relationships, which assets that you own, including your own thinking processes as well as productive resources like computers, phones, and software. We’ve all got immense resources at our disposal. There’s a supercomputer in every pocket, and a super idea in every mind.
Government control of business leads to failure not just because those who replace the original owners don’t need to respond to market signals. It mainly fails because the individuals taking over by force generally have no clue about the business they’re taking over.
If we want to maintain a free society, we have to take the money monopoly away from the government. This process has already begun and it can no longer be stopped, neither by mandate, nor by force.
Economics is not just about making money. It’s also about a chance to be valuable to others, to the world, to yourself. Banking money and showing love can and do exist in a harmonious relationship.
Any political system allowing the government to intercede in the economy will cause a bidding war between corporations and interest groups, which drives an increase in the amount of redistributed resources.
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