“Modern schools of economics do not teach the reality of economics as the study of human action, which results in their adherents being incapable of understanding the hard work, sacrifice, and risk needed for anyone to become a capital owner. This inability to understand cause and effect leads to imagining capital as some sort of heavenly privilege bestowed upon a particular race of people. You either belong to that race or you do not. There is little appreciation or understanding of the actions necessary to accumulate capital and hold on to it successfully, and as a result, many people waste their time, and the fruit of their labor, complaining bitterly about capital, rather than working to acquire it and raise their productivity and living standards. This economic ignorance is the wind in the sails of demagogue politicians who exploit it to achieve power and use it to expropriate capital owners.”
Principles Of Economics by nostr:npub1gdu7w6l6w65qhrdeaf6eyywepwe7v7ezqtugsrxy7hl7ypjsvxksd76nak
