posted April 04, 2014
5- The Economy
“It’s the Economy stupid”. Amen, I couldn’t have said it better myself. Economy is a Greek word (Oikonomia) comprised of two words, (Oicos, which means House and by extension Household and Nomos, which means the Law, Order). Together it means the orderly state of affairs of a Household, and by extension “Thriftiness of a Household”.
As you can see America, Economy does not mean Spending and Consumption, but Thriftiness and Savings. The Economy is a wide angle, deep field, complex situation. I can approach this diverse, complex situation from a dozen different angles simultaneously in my head but, since I have to articulate them I can do so one angle at the time. Because I am a big fan of Quantum Mechanics I will pick an angle at random. Before I do that, I like to state my CORE argument, the FUNDAMENTAL POINT about the Economy.
“The productive sector of the Economy is so unbelievably efficient and productive yet, it is burdened, at times attacked, being taken advantage of, and some of us show no appreciation. ”
I know, I know it is a strong statement, but in due time will become apparent and clear. Shortly I will define, state and make it clear what I mean by “productive sector of the economy”. And now the time has come to get on with it.
The number one priority of the economy is not to create jobs, and it is not to create profit. “The number one priority of the economy is to create wealth”. Whoa, doesn’t profit equals wealth? Well, in a word NO, profit has nothing to do with wealth. How about thinking outside the box. Before you make up your mind on this America, I like to invite anyone to participate in the following thought experiment.
Imagine for a moment that all of you who decided to participate in the thought experiment suddenly, each one of you, your net worth is 1 trillion dollars. That’s several times the combined net worth of Carlos Slim, Bill Gates, and Warren Buffett. How do each one of you feel? Wealthy? If you do congratulations, I am happy for you. Now comes the bad news, each one of you have just being diagnosed with an aggressive, inoperable brain tumor and doctors gave you less than a month to live. Your trillion dollars can do nothing for you. But wait, I got good news for all of you.
Extraterrestrials have appeared in front of all of you simultaneously and said: “We can cure all your brain tumors under one condition, all of you will not be able to earn more than $30,000.00 a year gross for the rest of your lives. How many of you will turn down the offer? You see Ladies and Gentlemen Wealth equals Health, there is a reason why they rhyme, and Debt rhymes with Death, slowly. So, now let’s examine what contributes to Health. On my next blog I will examine people’s hierarchy of needs, according to Maslow.
Until then, I wish everyone a hopeful day.
Paul Pantelis Rachmanides