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I = S - M

The modern way of thinking about economics has been I = M - S Where I is the I as in me, M is what is 'mine' and S is what ...

12/1/13

There is only one principle

There is only one principle: means and ends are reversible terms. Once a person understands this, meditates upon it daily, and becomes it, no more study of so-called economics is necessary.

There are identities in economics that have been only partially recognized. Due to this these have become half-truths and insofar as they contain some seed of truth and much falsehood are far more dangerous than out and out falsehoods that may be clearly seen for what they are.

One fundamental equation in economics is the following:

spending = income

Modern economics has caused great harm to the world by interpreting this identity very narrowly to mean that the quantity of spending measured equals the quantity of income measured. While this is true, it is a trivial truth. However much I spend ends up as income for whoever receives it. That is not actually very interesting as a description of life. I would like to remind the reader that spending = income actually means a lot more than that. For instance, the quality of the spending equals the quality of the income. How I spend equals how I receive! That is much more significant for how we live our lives than how much we spend or receive.

Now reverse that. How I earn equals how I spend. Can it be that this meaningless mass spending of billions of dollars over this weekend called Thanksgiving in the United States reflects the fact that the people spending that money recklessly on shoddy goods made overseas using underpaid labor (often children) working in unsafe unhygienic conditions are themselves working and earning at meaningless occupations that have little to do with their values and those of the earth?