Economics 101

Economics 101

The views and opinions expressed here are those of the author and do not necessarily reflect those of The Edgefield Advertiser.

 

By Scott Cooper

 

If you have been following my writing, you know I like to write about things which unify.  Things which effect all of us equally, regardless of race, creed, nationality, or socio-economic status.  I have called these issues, non-respecter of person issues.

 

My May 1, 2016 editorial discussed “The Laws of Wealth Creation and Poverty.”  http://www.edgefieldadvertiser.com/2016/05/laws-of-wealth-creation-poverty/.  I shared my experiences working in branch banking in the DC Market, observing immigrants to our republic from both the Hispanic and the Asian world, and how they thrived in our republic’s capitalist system.

 

I loved getting to know these immigrant families, because they shared with me their stories of choosing to risk everything to come to our republic to work in an economic system which had created the freest, most prosperous republic, with the largest middle class, in the history of the world. Yes, they fled tyranny in their home countries for liberty, but they also came to be a part of our economic system, capitalism.  What I also loved about many of these individuals is they had the familial traits: to work inter-generationally, the grit, the view of long-range investment, and thrifty spending traits, all of which provided the tools to be successful, once inside our capitalistic system.

 

Personally, while our republic has been a beacon of hope for individuals around the globe, I am concerned that we are losing our knowledge of these same principles that made our republic prosperous and great.  So great, that people have been willing to die, trying to get in, even as we tinker with the very system that made us great.

 

Many blame Washington for the tinkering in our economic system, but I believe Washington only reflects us, in large part because our citizenry isn’t well versed in the principles of capitalism.

 

To help citizens who care about this sad situation, Hillsdale College has provided a free online college course titled “Economics 101.”  I recommend this 10-part series, not only for you to take the course, but for you to encourage your sphere of influence to do the same.  This sphere of influence should not only include family and friends, children and grand-children, but also include those who represent you inside our halls of government, at all levels, who may be tinkering with the system.

At a minimum, I urge you to watch the first and final episodes.  The first episode is titled “Free Markets and the American Founding.”  The final episode is titled “Restoring Economic Liberty,” and covers four key items, and while its a wrap up of the course, it could be watched first.  The four items are:

 

  1. Our Founder’s vision of “How to solve the Problem of Rich vs. Poor,”
  2. Private Ownership under the right rules.
  3. Market Freedom
  4. Reliable Money

 

The link to register and watch is here:  https://online.hillsdale.edu/page.aspx?pid=2671.

 

In closing, as the next generation faces enormous unfunded liabilities, unintended consequences of the last generations tinkering, I believe time is of the essence in relearning these principles. I hope you will join me in this effort. More next week.

Here’s wishing you a productive week.

 

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