Jeff Thomas | Oct 18, 2024
In a macro cycle, a nation begins to thrive economically, when the people of that country adhere to a strong work ethic. They invest their money and toil into the economy, make a profit, then either save, purchase goods, reinvest, or a combination of the three. When the great majority of the people do this, the country thrives economically. The greater the economic freedom (i.e., the less governmental oversight and regulation), the more the country thrives. But this never lasts forever. The eternal fly in the ointment is that governments seek continually to increase their control over others.
Jeff Thomas | Oct 9, 2024
In 1759, Scotsman Adam Smith, who is widely regarded as the world’s first true economist, published his first great work, The Theory of Moral Sentiments. In it, he postulated that all social evolution can be attributed to “individual human action,” as opposed to “individual human design.”
Jeff Thomas | Sep 24, 2024
If left to their own devices, people will tend to come up with a society in which residents treat each other with equanimity and respect each other’s property. They’ll tend to help their neighbours, yet will otherwise respect each other’s privacy. This is not just happenstance. It occurs for a reason. It’s the most effective way to ensure that peaceful coexistence and mutual benefit are maximized over the long haul.
Jeff Thomas | Sep 11, 2024
Submission to the state is a time-honoured tradition, a concept supported by governing bodies since time immemorial. In days of yore, men submitted to whichever member of the tribe was the mightiest in battle. By doing so, they stood a better chance of succeeding in battle, thereby diminishing the likelihood of their own death or enslavement.
Jeff Thomas | Sep 3, 2024
“Imagine if you will, a situation in which the economy of a nation is overdue to experience an economic collapse of epic proportions, but remains endlessly at the brink. Every day, a collapse is more likely, yet the economic house of cards remains in a state of suspended animation. Some people become increasingly edgy, while others become more complacent. Only a few choose to actually prepare for what’s coming. An impossible situation? Yes. But we’d be well-advised to recognize that it wouldn’t only be possible in the Twilight Zone.”
Jeff Thomas | Aug 29, 2024
Essentially, this is the way events unfolded: First, as the central government became more wasteful, it increasingly relied upon "bread and circuses," or entitlements and public entertainment to placate the people. As the cost for these increased, taxes had to be raised on the productive members of society to pay the bill. This amount eventually became insufficient, as the number of recipients grew. Additionally, the government debased the currency by steadily removing silver from the denarius and replacing it with copper. But this solution was ineffectual, as it only served to create inflation, so more had to be done.
Jeff Thomas | Aug 14, 2024
The Mandarin word for “crisis” is weiqi. But weiqi is actually two words – the first, “wei,” meaning disaster and the second, “qi,” meaning opportunity. For thousands of years, the Chinese people have understood that disaster and opportunity come in the same package. Whenever a period of dramatic change is unfolding, the Chinese people recognise that change, in addition to potentially bringing disaster, also presents opportunity. To the western mind, crisis is a negative condition only, and as people wish to escape negativity as quickly as possible, westerners tend to support whatever leaders promise to make the problem go away quickly.
Jeff Thomas | Jul 23, 2024
History repeats. (Or it rhymes, depending on your choice of words.) Throughout history, there has been an extraordinary tendency for governments (and cultures) to follow similar paths. Even regarding eras thousands of years apart, we see people behaving in much the same way, over and over. This is particularly true in the case of “wrong moves.” Over and over, people and their governments make the same mistakes, seemingly never learning from past errors. Why should this be? In fact, how is this even possible? Surely, if a government in the 21st century were to make egregiously bad decisions, they are unlikely to be the same bad decisions that were made in, say, Rome, in the 4th century. The reason, in two simple words, is “human nature.” Human nature remains the same throughout time. Two thousand years ago, governments were typically made up of egotistical, self-centred dictatorial-types, who were far more concerned with their own power than in the general welfare of their people. Today, politics remains a magnet for such people. They therefore will revert to type, when faced with the very same problems. Should we cut spending to give the taxpayers a break? No, we should increase taxation and give more to ourselves.
Jeff Thomas | Jul 17, 2024
“When you see that in order to produce, you need to obtain permission from men who produce nothing – When you see that money is flowing to those who deal, not in goods, but in favors – When you see that men get richer by graft than by work, and your laws don’t protect you against them, but protect them against you – When you see corruption being rewarded and honesty becoming a self-sacrifice – You may know that your society is doomed.” Ayn Rand – Atlas Shrugged, 1957 Pretty strong words … the last four, in particular.
Jeff Thomas | Jul 9, 2024
Back in the ‘60’s, an interviewer asked the “King of Folk Music”, Bob Dylan what his goal in life was. Bob answered something to the effect of, “I want to make enough money to go to college, so one day I can be somebody.” Bob had a good sense of irony. And certainly, he was always more inclined to think outside the box than to follow the well-trodden path. That was part of what made him so interesting and part of what made him so successful. A similar sentiment was expressed in a song by his peer, Paul Simon: “When I think back on all the crap I learned in high school, it’s a wonder I can think at all.