Dedicated to all of our Veterans this Memorial Day.

A Consicous Conservative View of Economics

If you wish to know more about conservative economic theory, I recommend reading Wealth of Nations by Adam Smith, On Liberty by John Stuart Mill and The Law by Frederic Bastiat. End the Fed by Dr. Ron Paul is another good choice.

Probably the work that had the most influence on me was the introduction to an edition of The Communist Manifesto which was written by A. J. P. Taylor . Taylor led me to understand how the capitalism and the free market are not the same thing. He also left me with the impression that the only difference between a capitalist and a socialist system of government is which elite controls the economy.

Alan Greenspan is not a choice.

A Conscious Conservative View of Wealth Inequality

One way to fight wealth inequality is by fighting for sound money and an end to inflation.  When statistics are listed in regards to wealth inequality, they are usually measured in a currency, like the US Dollar.  Because of inflation, that creates the illusion of a growing wealth gap that doesn't exist. 

50 years ago (1966) a person who had a total net worth of $20,000 was considered solidly middle class.  In 1966, you could buy a modest house, a new car and have money left over with $20,000.  A person with a net worth of $200,000 was considered wealthy.  That is a $180,000 difference.  In today's (2016) dollars, the same people would have to have a net worth of about $150,000 and $1.5 million to have equivalent buying power.  People say "Wow! The wealthy person is now more than $1 million dollars richer than the middle class person.  Something must be done."  In terms of buying power, the ratio is still the same, about 10 times.

So a large part of the problem is not that actual inequality is growing, but that the measuring unit (dollar , pound, yen euro) is ever shrinking.  If we return to a sound currency, where the unit of measurement stays the same year after year, the inequality stops growing.