Posted on 07/19/2020 6:58:48 AM PDT by Tippecanoe
'Capital is what men and women have saved. It is “what was left over from yesterday.” The man who has saved a dollar is a capitalist. If he has saved two dollars, he is a greater capitalist. If he has saved enough to give employment and opportunity to other men, he is a captain of industry. Most of the enterprises that require large capital investment are made possible by combining the savings of thousands of small investors. There are over three million investors in the stocks and bonds of electric light and power companies in this country alone. Our great railroad, street car, telephone, banking, and insurance companies are made possible by the small investments of many men and women. When we legislate against these companies, we are injuring millions of small investors. Wise indeed were the Fathers. They protected such as these in our Constitution.' -GW Cartwright, Voice of America, 1925. https://remnantshighway.files.wordpress.com/2012/07/voiceofamerica-hilite4.pdf#limitation-of-wealth
Capital is also sweat equity, inventions and nature.
It is freedom.
Why does Free Trade fail to right the economic wrongs in much of the world?
The answer is there is a mystery surrounding Capital. The South American economist named after the explorer, Hernando De Soto explained it 20 years ago in The Mystery of Capital.
Read about his great book here:
https://capeyorkpartnership.org.au/wp-content/uploads/2018/08/The-Mystery-of-Capital_Hernando-de-Soto-book-review-by-Noel-Pearson.pdf
Anonymous Modern slaves are not in chains, they are in debt.
Proverbs 22:7 (NIV), “The rich rule over the poor, and the borrower is slave to the lender.”
Cicero Whoever gives his labor for money sells himself and puts himself in the rank of slaves
Norm Fra Brought Gold is the money of kings, silver is the money of gentlemen, barter is the money of peasants – but debt is the money of slaves.”
Means of production.
bump
“Cicero Whoever gives his labor for money sells himself and puts himself in the rank of slaves”
I thought Cicero was smarter than saying something that stupid.
Maybe the “slave” freely chose to sell his labor in order to not starve?
Looks like a good read, which I have plenty more in backlog.
A quick scan appears to give this of his 200 pages:
The reason capitalism fails outside the west (and even in the west to a lesser degree) is two factors I use frequently:
1. Culture.
2. Government
And so it has been for 6000 years.
Also property rights.
That is certainly an ingredient.
For the curious, here is the book from which this snippet was taken, written in 1925 by a California 2 term Democrat state senator, LA area.
Lots of these small books were distributed, and he gave many speeches to large crowds all over the country.
My how democrats have lost their way.....
The Voice of America, by GW Cartwright
https://remnantshighway.files.wordpress.com/2012/07/voiceofamerica-hilite4.pdf
His book was used to close out the presentation of “Commanding Heights” the six hour documntary.
Thanks for the reference.
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