Thursday, September 23, 2021
Wednesday, September 22, 2021
Tuesday, September 21, 2021
Monday, September 20, 2021
Friday, September 17, 2021
Thursday, September 16, 2021
Wednesday, September 15, 2021
Tuesday, September 14, 2021
The other day we got into a discussion with someone insisting that taxing gifts and inheritance is illegal, immoral, and fattening . . . or maybe just unjust. It doesn’t really matter; this individual just kept insisting that you cannot be for justice and at the same time tax inheritance. In addition, a few comments were made claiming that “person” doesn’t mean “that which has rights,” a somewhat problematical claim for an attorney.
Monday, September 13, 2021
“Human capital” is an interesting term. The “Investopedia” website defines it as “a loose term that refers to the educational attainment, knowledge, experience, and skills of an employee. The theory of human capital is relatively new in finance and economics. It states that companies have an incentive to seek productive human capital and to add to the human capital of their existing employees. Put another way, human capital is the concept that recognizes labor capital is not homogeneous.”
Friday, September 10, 2021
At the present time most people seem to be focused (at least in the economic realm) on income, rather than power. Maybe in difficult times that’s what people tend to do, but in the end it does boil down to whether you own, or are owned. That is why we support the Economic Democracy Act as the best alternative of which are aware to things like this:
Thursday, September 9, 2021
In the previous posting on this subject, we noted that the difference between interest per se and usury is that interest is a legitimate sharing of profits on some equitable basis, while usury consists of taking a profit where no profit is due. Complicating understanding of this difference is the confusion between past savings and future savings, and the different types of money derived from each of them.
Wednesday, September 8, 2021
As we saw in the previous posting on this subject, the type of money determines its proper use. Money that is created by reducing consumption in the past should be used for consumption in the present or the future, not to increase production.
Tuesday, September 7, 2021
In the previous posting on this subject we took a look at a fundamental error in Keynesian economics, in all of the schools of economics based on the Currency Principle, in fact. That is the claim that production must exist before production can exist — the logical fallacy of reversing cause and effect, specifically, that you must refrain from consuming something before you can produce it.
Monday, September 6, 2021
Yes, we know that most people are celebrating Labor Day today, but we think it's more important at this stage to start pushing for capital ownership. After a;;, people produce with both capital and labor, so both should be acknowledged and encouraged
Friday, September 3, 2021
While the weather (at least in Northern Virginia) has taken a turn for the better, the same cannot be said about the world situation. In our opinion, that is not going to improve other than temporarily until and unless the Economic Democracy Act is passed:
Thursday, September 2, 2021
As we saw in the previous posting on this subject, there are short term expedients that if implemented as permanent solutions impose a condition of dependency — slavery — on the great mass of people. This is not to say that such things as stimulus payments, redistribution, job creation, full employment, and so on, are not essential at times, but they are not the solutions that so many people seem to think.
Wednesday, September 1, 2021
As we saw in the previous posting on this subject, the principal way in which people today can be fully productive members of society (and the economy) is to own capital as well as labor. Of course, that only matters if you view all people as fully human instead of lesser beings or things to be taken care of.
Tuesday, August 31, 2021
Say’s Law of Markets is usually summarized as “Production equals income, therefore, supply generates its own demand, and demand, its own supply. Unless, however, you understand or even are just generally familiar with the full explanation of Say’s Law, it’s likely that you will either misunderstand it or reject it outright.
Monday, August 30, 2021
This week we feature “Great Books” philosopher Mortimer J. Adler speaking on the United States Constitution of 1787. Adler taught “Philosophy of Law” at the University of Chicago law school, and William Winslow Crosskey (Politics and the Constitution in the History of the United States, 1953) taught “Constitutional Law” there.
Friday, August 27, 2021
We hate to keep sounding the same note all the time, but many of the problems the world is currently facing would not even be a blip on the radar if the Economic Democracy Act had been passed when it was first proposed, whether then-Governor Reagan’s call for an “Industrial Homestead Act,’ or even Louis Kelso’s 1967 Accelerated Capital Expansion Act. No, it’s not a panacea; we’d still have problems, but they would be of a more manageable size. Until then, however:
Thursday, August 26, 2021
As we saw in the previous posting on this subject, redefining a natural right means that you are, in effect, redefining what it means to be human. That’s because natural law is based on human nature, so redefining its principles effectively redefines what it means to be human.
Wednesday, August 25, 2021
As we saw in the previous posting on this subject, quite a few people in the world don’t really know the legal definition of “person” . . . although they probably think they do. That can cause one or two (billion) problems.
Tuesday, August 24, 2021
If you want to develop a solution to what’s going on in the world today, you have to start with the human person. If something — such as a “Great Reset” — does not tend to the good of a human being as a human being, then it cannot be said to be good.
Monday, August 23, 2021
This particular podcast comes with a little caveat. We agree with what Dr. Robert Ashford says, but not necessarily how he says it, e.g., he uses the term “capitalism” when we prefer “economic personalism.” Other than that, you won’t find too many differences, so this audio recording should be of great interest, at least the first part: