Reason and Capitalism » Archive
Economics of Physiocracy
I’ve been studying Physiocracy in the last week or so, and have really enjoyed it. It’s essentially one of the first schools of economics — it’s extremely agrarian. It’s based on a collection of French thinkers in the 1700s who concluded that all economic productivity stemmed from agriculture, and the government should essentially keep its hands off the economy. It’s obviously a little primitive, but I really like the approach. They seem to be looking for “natural laws” of human and economic behavior that society should try to follow. It’s a great sister-philosophy to natural law and natural rights. Big fan. Of course, the obvious problem is that agriculture is just one source of productivity, but I do like a natural-resource oriented approach. I’m probably a modified physiocrat myself — I’d agree … Read entire article »
Filed under: Business and Economics
Evil Rich People
I am absolutely sick and tired of non-rich snobs looking down their mediocre noses at the rich because the rich dare to actually spend their money on themselves. But rather than argue with this herd, I’m going to do this: if you believe “excess” and “lavish lifestyles” are bad, I will personally help you change your life and get rid of all of /your/ excess. We’ll start with diet, entertainment, and free time. A few weeks ago, I posted a link to a place where plenty of people were condemning Dave Ramsey for owning a large house. As in, condemning him — saying he was wrong to have a nice house. While I disagree with a lot of his stuff, he’s helped thousands upon thousands of people to completely change their lives. Even … Read entire article »
Filed under: Business and Economics
Think Before You Work
The modern man thinks it’s normal to spend all day working to make just enough money to not starve — but somehow also thinks it’s abnormal to spend more than a few minutes per day actively thinking about how money works, and how they can be more efficient at making it. This is backwards. Think before you work. … Read entire article »
Filed under: Business and Economics
How to Make Money During a Gold Rush
You know who got rich during the gold rush? The guys shelling shovels. That was my theory toward the end of 2009. I was relatively new to economics, but from what I understood, it seemed like a gold and silver bull market were just beginning. Unfortunately, I didn’t have much money. I did, however, have an understanding of publishing websites and making money that way. I was selling intellectual shovels. I was a web publisher. That’s why I launched a websites and a newsletter on precious metals, and eventually sold it to a Brazilian investor, and then re-launched two more precious metals websites — Live Gold Prices and Live Silver Prices. We’re in a gold rush, and the easiest way to make money in a gold rush is to sell shovels. It’s the next … Read entire article »
Filed under: Business and Economics
A Quick Note to the GOP
Dear Republicans, it is much, much, much more important that you cut spending than it is that you keep taxes low. This is because whether we directly or indirectly raise taxes, it’s going to be paid somehow. This is also known as “economics”. Yes, ideally we wait to pay for it when we have better economic times — but it’s much more important that we don’t destroy the dollar. That’s much closer to a breaking point. If you need some help, read my economics textbooks website. No problem. … Read entire article »
Filed under: Business and Economics
I’m Just a Greedy, Selfish, Privileged Jerk
My generation is being taught that as long as they study something they think is fun, the money is going to come. So we have millions of young adults spending 5+ years studying something they find fun, going into debt, and psychologically preparing for an upper-middle class lifestyle. Then reality sets in, their degree is borderline worthless, they’re in massive debt, and they’re still freaking poor kids who are happy if they get a low-paying job. They lose half a decade, tens of thousands of dollars, and they’ll pay for those decisions for the rest of their lives. This wouldn’t be nearly as bad if it wasn’t that literally all the smart people my age are doing it. Because everyone’s doing it, this essentially pushes the US economy off a consumer-debt, unsatisfied-life … Read entire article »
Filed under: Uncategorized
The Dirty Little Secret of Failure in America
A couple of years ago, I had a lot of strong opinions about capitalism, and the American dream, and the idea that most people financially got what they deserved over time. But I’ll be honest…I thought I might have been wrong about the possibility of the American dream. I was sheltered, after all — I didn’t have much real-world experience on really any level. I thought there was a good chance my generalization was wrong, and a good portion of people really did all the right stuff but still failed to achieve the middle class. Maybe success really was more about random luck of being in the right place at the right time. I’m not just making this up; I really was convinced this was at least partially true. You can’t blame me. Most sermons, … Read entire article »
Filed under: Business and Economics
Inflation Facts Most Don’t Know
I built an inflation website a few months ago to have an online platform for explaining inflation related concepts in a consolidated form. There’s a good reason to focus on writing about inflation. Inflation is easily one of the most misunderstood topics in economics and finance. Food for thought: Inflation isn’t up or down in general; some markets inflate, and other deflate. Like right now, we’re seeing both massive inflation in commodities, and deflation elsewhere. When the government talks about the need for “inflation” what they mean is that they want one part of the economy to do better than other parts — they’re stealing from one part of the economy to give to another part. Inflation destroys “money”, not wealth. This means inflation destroys debt; inflation helps the US spend more … Read entire article »
Filed under: Business and Economics
The Real Costs of College
I’m a college dropout. Most people think that’s a negative label, but that honestly makes me smile. I think college degrees and the “college experience” are probably the two most overrated concepts in the last century. Everyone talks about the benefits of college, but almost no one admits that there are often incredibly high built-in disadvantages. This isn’t to say college isn’t often justified — but let’s not pretend there aren’t incredibly high built-in costs. Off the top of my head: Half a decade of time often consumed. Roughly 40k in earnings are often lost up front. Often high-risk living conditions, esp. for girls. Privacy essentially doesn’t exist in dorms for most. Winner takes all — deciding year 3 to stop means no degree. Thousands or tens of thousands in debt for many. Most are essentially lied to for … Read entire article »
Filed under: Business and Economics, Opinion, Personal Development
Financial Projects I’m Working On
A few months ago, I sold the biggest website in my network of financial networks. I took a week off, and then moved on to purchase a collection of new properties, including: Retirement Blog. I recently bought retirementblog.com, and will be updating that place with all of my early retirement ideas and thoughts. It should be a lot of fun. We’ll see how it turns out — I have big plans for it. Electric Fireplace Place. I also recently purchased an electric fireplace website. Random, I know. But that niche is basically untapped, and there are millions of electric fireplaces purchased every year, so I purchased a fully-functioning website. It was really cheap, and I’m glad I bought it. Easy Investing Blog. I recently launched an investing blog. It’s written for people who … Read entire article »
Filed under: Business and Economics