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RE: The Wealth of a Nation: Why Capitalism Works
it is baffling why politicians and pundits focus on redistribution, when the focus should be building of wealth
Yep.
Regulators can't build wealth and competitiveness. They can only destroy it to various degrees.
Double yep.
So glad to see your great content here, @falkvinge. I wrote a post a while back about how something like Steemit could be used to create a UBI, especially with the wave of automation that's coming. Exciting times to be alive, for sure. I look forward to the series, and you have my follow for sure.
To oversimplfy, there are two forces that retard human progress, do-gooding and rent-seeking. The term "do-gooding" has little to do with the actual performance of acts that create good results, but instead refers to processes with have the appearance of doing good, and building personal social capital on that appearance. Rent-seeking refers to processes that provide accumulation of profit from other people's capitol and work.
Both rent-seeking and do-gooding are self-interest motive process that interfere with full human production.
Redistribution policy appeals to both of these motives. Politicians, of course benefit from both motives. I think we can all name a politician who has grown wealthy in "public" service. These politicians can use redistribution policy to attract the votes of people with both rent-seeking and/or do-gooding motives.
A historical example outside of redistribution policy would be Prohibition. There is a concept known as "bootleggers and Baptists" which can be summarized in having the bootleggers support prohibition for rent-seeking motive ( higher prices and less competition in selling booze) while the Baptists had the do-gooding motive of fighting "devil rum".
Surprisingly enough (not really), there is not a whole lot of academic research in these areas. If anyone is interested, I can put up some references to what I have collected so far.
Spot on. Bravo.
Thanks for the shout out! And yes, the Chinese have a curse: "May you live in interesting times". We definitely are.
Hah! That phrase seemed too crazy to be true so I had to look up the origins. Wikipedia says it's apocryphal.
The more you know. :) Thanks.
I learned something new today as a Chinese from non-chinese people . LOL
Wikipedia says
"Better to be a dog in a peaceful time, than to be a human in a chaotic (warring) period"
宁為太平犬，莫做亂离人 nìng wéi tàipíng quǎn, mò zuò luàn lí rén"
the Chinese have a curse: "May you live in interesting times"
:-) I am a Chinese, I never say that. LOL
You have all my upvote and follow