Get rid of politically created and reinforced privilege and allow economic processes to readjust to reality: to target production of wellbeing instead of favors and influence. This will not do away with inequality as such, but will significantly decrease it.
People prefer to deal with those they know, like and trust. Small business can win big on these three fronts. More and more customers will make the choice to buy from small business, especially now that technology, science, efficiency and organizational effectiveness are no longer reserved to big business.
According to Gallup, only 13% of people worldwide say they are engaged in their jobs – they find their work meaningful and look forward to it. Maybe this whole jobs thing might not be working too well. Innovation For Jobs (i4j) is aiming to create a new paradigm.
Central Bankers need to acknowledge how little they know about how their policies affect the economy, and how simplistic and weak their models are. Their failure to do so amounts to creating financial crises deliberately.
It’s well known that the top 1% seize all the income gains. The rest of us stagnate. Isn’t that true? Well, no. Who says so? The Congressional Budget Office, which reports periodically on the distribution and growth of the nation’s income. It recently found that most Americans had experienced clear-cut income gains since the early 1980s.
There is an impartial spectator inside all of us, guiding our actions. The market is an external impartial spectator, the sum total of all the empathy in all free market exchanges.
Hayek hoped we would reject calls for tribal loyalty – what the politicians and talking heads on TV News broadcasts have attempted to frame as “unity” – and, instead, pursue our individual ends, defined by our unique needs and life circumstances. He conceived of a system that relies on general rules of conduct, based on personal morality. But many fail to comprehend how such a system works for everyone.
FIRE savers aim at a sense of control and independence, and have chosen savings as the means. They eliminate a lot of the negative sentiments that come with uncertainty and disappointment from their lives, and they feel good about their life management style today and their prospects for living life on their own terms tomorrow. Ph.D. not required.
We are always told that to live in harmony, people must strive for a common end. We must be “united”. This is the device that has been effectively employed by all dictators. To preserve civilization, we must resist the call to unity and pursue our individual ends.
What is really disturbing is not the fact that some have lower income than others, but rather that some have very little. Fortunately, this is where capitalism enters the scene. Our chart paints the spectacular reduction in global extreme poverty over the last few decades.
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