Posted by Drew Ivers on 03/08/09Last updated 08/03/09
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COMMENTARY#10: Bruce Koerber, Cedar Rapids: M.S. (Austrian) Economics; Member: Mises Institute.
INFORMATION
Counterfeit Culture
What an embarrassment! The United States has become what it is down inside - a counterfeit culture. The States are united but only in the sense that they are subjects to the same overlord. The States do the bidding of the Union and have grown dependent like an addict on the flow of counterfeit money.
In a counterfeit culture the worth of contracts disappear. One of the great strengths of America was its protection of private property rights but this contract is fading away. As taxes increase it will become increasingly obvious that property owners are really only renters!
Obviously the currency is counterfeit. There is no restraint on its creation while its distribution is intended to redistribute wealth to those favored by the ones in charge. And speaking of the ones in charge - who are the ones who have counterfeited legislative circles around the Constitution and counterfeited themselves as the ones in charge?
Why is the Congress going along with all of this as if nothing is wrong even as we counterfeit our culture of freedom and liberty by militarizing the world and destroying those cultures by introducing counterfeit ideas about democracy. When politicians knowingly promise things that are fiscally irresponsible and which violate property rights and ethics are they not acting like counterfeits?
Banks and other industries are now just facades, counterfeits of their real selves. Education that teaches an agenda ordained by the counterfeiters rather than training people to investigate the truth is, guess what, counterfeit.
It is time to audit the Federal Reserve and to purge our culture of the counterfeiters!
ACTION
As of the first of August, all five of our Congressman and Tom Harkin have co-sponsored legislation to audit the FED. Sen. Grassley has not yet done so, but don't assume he will without your call or email to him. Then, take parts or all of this wonderful post from Bruce and send a letter to the editor of your local paper. This commentary should be reprinted in part or whole as far and wide as we can distribute it. And, that task is in your hands. Do it today!
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COMMENTARY#9: Bruce Koerber, Cedar Rapids: M.S. (Austrian) Economics; Member: Mises Institute.
INFORMATION:
Understanding Profit
The purpose of production is profit so the fruits of production can be purchased and consumed! Everything above mere subsistence is directed towards subjective choices that satisfy less urgent wants. Goods and services that satisfy those wants are sought with the income above the subsistence level.
What could be more basic? Who is opposed to consumption, and if so, they will perish from starvation soon and no longer will there be anyone left to say that they are opposed to consumption. Likewise it is absurdly draconian to imagine that people should only exist at the subsistence level.
To consume requires the acquisition of consumption goods which requires a productive endeavor yielding an income. A productive endeavor yielding an income is profit! Even consumption at the subsistence level requires an income so those that oppose profit cannot justify or even sustain their communism fantasy!
But profit does even more to make the economy function properly. A productive endeavor that fails to yield an income results in loss, the opposite of profit. This endeavor will not be chosen again or emulated by anyone who is trying to live prosperously. In other words, resources will not be wasted.
So it will be that the profitable endeavors will be the ones pursued and these will yield fruits of production that will enrich society - and generate profits (incomes) - thereby increasing human prosperity in many and in wonderful ways.
ACTION:
Reread this and think about current government bailouts of failing businesses. Poor performing enterprises, regardless of their size, should be allowed to fail. Such purging brings opportunity for effective enterprises to expand and create a stronger economy long term. Summarize this concept in a brief letter to the editor and send a copy to your Congressman and Senators.
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Posted 07/09/09
Drew Ivers
Webster City, IA | COMMENTARY#9: Bruce Koerber, Cedar Rapids: M.S. (Austrian) Economics; Member: Mises Institute.
INFORMATION:
Understanding Profit
The purpose of production is profit so the fruits of production can be purchased and consumed! Everything above mere subsistence is directed towards subjective choices that satisfy less urgent wants. Goods and services that satisfy those wants are sought with the income above the subsistence level.
What could be more basic? Who is opposed to consumption, and if so, they will perish from starvation soon and no longer will there be anyone left to say that they are opposed to consumption. Likewise it is absurdly draconian to imagine that people should only exist at the subsistence level.
To consume requires the acquisition of consumption goods which requires a productive endeavor yielding an income. A productive endeavor yielding an income is profit! Even consumption at the subsistence level requires an income so those that oppose profit cannot justify or even sustain their communism fantasy!
But profit does even more to make the economy function properly. A productive endeavor that fails to yield an income results in loss, the opposite of profit. This endeavor will not be chosen again or emulated by anyone who is trying to live prosperously. In other words, resources will not be wasted.
So it will be that the profitable endeavors will be the ones pursued and these will yield fruits of production that will enrich society - and generate profits (incomes) - thereby increasing human prosperity in many and in wonderful ways.
ACTION:
Reread this and think about current government bailouts of failing businesses. Poor performing enterprises, regardless of their size, should be allowed to fail. Such purging brings opportunity for effective enterprises to expand and create a stronger economy long term. Summarize this concept in a brief letter to the editor and send a copy to your Congressman and Senators.
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