No, Nick, your children don’t owe $70,633 each to the US government’s creditors. Nor do you or your wife Valerie. Nor do I. Nor does anyone reading this column who’s not a current or former president, vice-president, or member of Congress. The only people who owe the $23 trillion “national debt” are the people who borrowed the money.
Tag: wealth
Are You Properly Enjoying Your Wealth?
It takes relatively little effort to provide for your own really essential needs: food, water, shelter, clothing. Setting aside people who feel the need to give their kids or spouses lots of unnecessary doodads, vacations, etc, the “bare necessities of life” have never been cheaper, particularly if you live in the West. A small amount of labor can keep us alive – anything over that is just bonus. But how many of us really appreciate or enjoy the freedom that comes with that wealth?
Trump versus Iran: Power Doesn’t Just Corrupt, it Deludes
The claim of such absolute power has been the tacit US doctrine of foreign relations since at least as far back as the end of World War Two. America emerged from that war as the world’s sole nuclear power and, unlike other combatant countries, with its wealth virtually unscathed and its industrial capacity increased rather than demolished. Its rulers saw themselves as able, and entitled, to dictate terms to almost everyone, on almost everything.
Instead of Acting Rich, Take Advantage of Your Time Billionaire Status
There are few things we young people like more than competing for status. Unfortunately, we’re often tempted in the direction of acquiring status by buying stuff we can’t afford so we can fool people into thinking we have wealth we don’t have. Look – it’s not cool to flout riches under any circumstances. But if we absolutely *must*, why not flout our richness in time? Let’s act like the time billionaires we are.
Holiday Consumerism: Who Decides What “Nobody Really Needs?”
I come across the “stuff nobody needs” argument frequently, from voices all across the political spectrum, for reasons ranging from economic to environmental to spiritual. I also notice that in the featured portrait on Smith’s blog, he’s holding what appears to be a pretty sweet Gibson Les Paul electric guitar. Does anyone “really need” an electric guitar?
Open Borders Are a Trillion-Dollar Idea
Do I seriously think I am going to convert people to open borders with a short article—or even a full book? No. My immediate goal is more modest: I’d like to convince you that open borders aren’t crazy. While we take draconian regulation of migration for granted, the central goal of this regulation is to trap valuable labor in unproductive regions of the world. This sounds cruel and misguided. Shouldn’t we at least double-check our work to make sure we’re not missing a massive opportunity for ourselves and humanity?
Do You Talk About X in Open Borders? Yes!
The modal question about Open Borders is, “Do you talk about X?” The answer is “YES” for all of the following…
How Children Learn the Humanity of Trade
My older children attend a self-directed learning center for unschoolers a couple of days a week. I love to hear the stories they share about what they do during the day. Classes are offered and are generated based on the young people’s interests, but they are entirely voluntary. Kids can attend classes or do their own projects, either independently or collaboratively, during what is known as “open hangout.” No one directs the hangout. Adults are present to facilitate and help if needed, but they don’t orchestrate the children’s work and play. The kids are free to create at will.
Get Off the Pendulum: The Trap of Reactionary Thinking
When I was younger, I used to enjoy riding Pharaoh’s Fury at the Coastal Carolina fair. This big sphinx-headed boat swung back and forth on a mechanical arm, terrifying and thrilling the riders, and (in our imaginations) we thought about what it would be like if it went upside down – dumping us all out. This ride is much like how most people and cultures do their thinking about values in politics, religion, and cultural norms. We swing in one direction, then another, then back again.
Yep, These People are Stone Cold Crooked
Maybe Joe Biden was just worried about corruption in Ukraine and not throwing his vice-presidential weight around to protect his son. Maybe Donald Trump is just worried about corruption in Ukraine and self-dealing by American politicians, rather than cynically abusing his presidential power to have foreign governments torpedo his political opponents. OK, now let’s get back to the real world where, as Lord Acton wrote, “power tends to corrupt; absolute power corrupts absolutely.”