Sophistication overuns the basics

Some things are simple. Discussing them in a sophisticated way does not make them any less simple. Fancy words and theories do not transform a simple principle into a complicated study. Just because an advanced college degree is available for a certain subject does not mean that the principles governing that subject are involved.

Our standard of living in this country is determined by the products we produce and the services we provide. If we produce lots of nice products that improve our lives and if people are out performing valuable services that make people lives better, we will have a high standard of living. If we don’t… we wont. It’s just that simple.

We can pretend that things such as “sophisticated” tax policies, adjustments to interest rates, “stimulating” the economy, creating more money, creating less money, voting for certain people or whatever else we want to believe will improve our standard of living but the single most important thing is to have policies which give each person an incentive to build products or provide services that improve our standard of living. Contrary to current popular belief, the free market is the best way to achieve this incentive.

Leave a Reply