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Jane Schiffler's avatar

Fear not for the Lord is with you. I have no social media or television. Thank you Eko for the email format. I left California 8 years ago for a tiny town in Idaho. You would never know there was chaos. I walk many mikes everyday. I look to the heavens and pray. God is all around.

Bless you EKO.

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Adam Haman's avatar

It was fun to see this arrive in my email as am currently reading for the first time, Lewis's "space trilogy". I'm a couple chapters into That Hideous Strength.

I like this piece of yours (as I do most of your writing) except for the "wealth" subsection.

Accumulating wealth is accumulating capital, and that's what drives further improvements in production for the benefit of all the rest of us.

Yes, it's fine if a rich person spends money on philanthropy and "public works", but it's even better if they pour that wealth back into the economy in the form of capital investment. Building a library or a public park is fine. It benefits some. But putting capital to work in a successful business benefits many many more people.

The "Scrooge McDuck" image is a silly fiction. Almost nobody "hoards" wealth, and most productive people don't live in the kind of opulence that they could. First of all, that's not usually how productive people operate. And secondly, how many yachts can a guy water-ski behind anyway.

When we look at rich people and calculate their wealth, realize that the vast majority of their wealth is held in the form of stock in companies that they consider productive.

(Except for cronies of course, who got rich via government intervention in markets.)

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