Economics

Scales Summary:

Economics influences everything you do and think, including: daily living, the job you have, the way you spend or save your money, the way you vote, where you live, how you live, and even the way you practice religion. Two contradictory economic systems are practiced intermixed in the world today: Mercantilism and Capitalism. Socialism is dependent on and champions mercantilism.

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Economics

You should be aware of the basic principles of economics because it influences every aspect of your life. It always has since the day you were born, it does now, and it will in the future until you die. It influences the job you have, the amount of money you earn, the way you vote, the government you have, the school you attend, where you live, the food you eat, the vacations you take, the way your practice your religion, and even the way you think. Right economic principles gives you the ability to control and increase your own wealth as well as that of society. Wrong economic principles impoverishes both you and society.

A simple rule to remember is, when something helps you, it helps those around you. When it hurts you, it hurts those around you. If you are becoming wealthy, you are spending and giving more money out. If you are impoverished, you are a drain on those around you. Another rule to remember is, proper wealth comes by developing natural resources, not by impoverishing others.

I'm going to outline two economic systems, Capitalism and Mercantilism. One brings economic well being to yourself and to those around you and The Other impoverishes you. You are familiar with some aspects of both, but if you haven't defined each economic system with its results, then you may attribute wrong results to each one, and thereby follow an economic path that is a mixture of the two. You would follow a path of life expecting good results by practicing that which brings destruction and ruin.

Because these systems are incompatible and contradictory, trying to follow a path combined of both is destructive to your financial well being and your understanding of the world. That leads to confusion, disillusionment and bitterness. It's pretty bad when you're confused, disillusioned and bitter about life. You’re trying so hard to get and do what is right, and all the time reaping failure and loss.

You never blame yourself for failure to achieve the rewards you seek, because you’re working so hard to get them. Instead, you blame someone else who must be stealing from you that which you desire so much to have and work so hard to get. You want to punish those people who are subverting all your effort. You want to take back by force what you worked so hard for but they gained by trickery. You want to vote them out of office. You would never suspect it's your own fault and not theirs because you have adopted wrong economic principles and built upon them.

I use the word "ruler" or "king" here to mean any person in authority, male or female, whether president, monarch, prime minister, senator, congressman, governor, or any other governmental officer who shapes and heads government.

Of the two economic systems common in the world today, Capitalism and Mercantilism, One brings us unparalleled prosperity and The Other brings us devastating poverty and ruin. If One is so good and The Other is so bad, then why would anybody practice The Other? Because The Other brings great power and wealth to the rulers. It puts all the wealth and all the power into the hands of the rulers. Therefore people must be educated to guard their own prosperity, because those rulers who practice The Other system is out to grab it all for themselves.

It's ironic that rulers would practice wrong economic principles in order to amass their own wealth, because wealth is unlimited. One group believes wealth comes from business through developed natural resources and The Other group believes wealth comes by taking it from other people. Those rulers who practice The Other system are diligent to capture all the wealth and all the power, and then dole it out as they feel is right.

Socialism is a political system that uses Mercantile Theory as its economic philosophy. It cannot work under Capitalism, so the socialists must champion their own system and undermine capitalism. It does not matter how much a socialist says he believes in and follows capitalism; the fact is he can not. Capitalism is a contradiction of socialism, and for the socialist to exist, he must adhere to and practice Mercantilism.

Books have been written on these two systems and great men expounded how they work and why they should work. I will not dwell on how they should work but how they do work. We judge the practice by the results.