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Saturday, July 22, 2017

How The Elites Betrayed Working-Class America

Win-win deals get people more of what they want. Win-lose deals – usually imposed by government – bring them less. The few (the insiders) use government to exploit the many (the rest of us).

Win-lose deals also depress economic progress for everybody. Partly, this happens for an obvious reason.

Dropping the atom bomb on Hiroshima was a technical milestone, but not the kind of progress we’re talking about. Progress only makes sense if it means that people are able to get more of what they want.

By definition, when a person is forced into a bad deal, he gets less of what he wants.

Progress is also a learning process. You try something. You see what works and what doesn’t. As people experiment in this way, they learn… and the economy accumulates knowledge and wealth.

They learn to get to work in the morning, for example… to say please and thank you… to save their money… and to invest it wisely.

Win-lose deals interrupt the learning process. That’s why welfare programs fail: People get money without learning.
Temptation to Cheat

That is the real reason the Soviet Union failed, too.

Consumers were forced to buy whatever shoddy products were made available to them; producers had no way to learn how to make good ones.

Toward the end, products available for purchase in the Soviet Union were worth less than the raw materials and labor that went into them.

What do you need for win-win deals?

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2 comments:

Anonymous said...

Leaving the gold standard gave our government the unfettered ability to manipulate our currency just like other countries do (China). Gold is not the real value of our economy but owning some is not a bad idea. You just need to learn how to play the game to your advantage. And hope the government doesn't change the rules again. This is the world we live in. Best of luck...

Anonymous said...

the only thing with buying gold is. You better hope the Govt doesnt get the burr to ban it again. For years it was illegal to own gold, in the US. it was banned in 1933 till 1975... Millions of dollars in gold was confiscated by the US Treasure and IRS. If You're buying a lot of gold you better find ways to hide it. All it will take is another lefty liberal progressive to get the idea and puff, you're gold will be all owned by the US Govt. Even safety deposit boxes were seized because people were trying to hide their gold on those boxes. So don't try to hide it in a bank nor under your mattress.