Poverty demoralizes. A man in debt is so far a slave; and Wall-street thinks it easy for a millionaire to be a man of his word, a man of honor, but, that, in failing circumstances, no man can be relied on to keep his integrity.
– Ralph Waldo Emerson, Wealth
Liberty Blitzkrieg readers know that I’ve been extremely critical of our modern U.S. economy for nearly a decade now. I’ve used harsh, but entirely appropriate language, such as rent-seeking, parasitic and criminally corrupt to describe our current financial/economic system. These are not words I use lightly.
I have absolutely no problem with wealth differences within a society, even large discrepancies are fine as long as the general population is benefits substantially from overall growth trends. This is not the case in today’s economy.
I support a real free market economy where barriers to entry are low, and in which small business and competition thrives.…