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23.
Good Economics
Is
Good Morality
Originally published by the American Economic
Foundation under the title of
"Ten Pillars ofEconomic
Wisdom,"
and reprinted with permission, the following
are ten economic truisms with their respective
applications:
Principle No. 1 -- Nothing in our material world
can come from nowhere or go nowhere, nor can
it be free. Everything in our economic life has a
source, a destination and a cost that must be
paid.
M.Qral:
It is not right to .try to influence
anyone by inferring that it is possible to get
something for nothing.
Principle No. 2 -- Government is never a source
of goods. Everything produced is produced by
the people, and everything that government
gives to the people, it must first take from the
people.
MQral:
It would not be right for
government when transferring goods from one
group to another not to disclose the source and
the extent of the sacrifice involved.
Principle No. 3 -- The only valuable money that
government has to spend is that money taxed or
borrowed out of the people's earnings. When
government decided to spend more than it has
thus received, that extra u.nearned money is
created out of thin air, through the banks, and
when spent, takes on value only by reducing the
value of all money, savings and insurance.
MQral:
It is not right to dilute the value of the
people's money especially without their
knowledge and consent.
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