How Business Executives and Investors Create Wealth and Earn Large Incomes





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Dear Bill,



Wealth is Created by Action Based on Rational Thought






Wealth is Not Money — Monetary Wages vs. Real Wages


Not wealth.

There are many confusions that many people hold about economics today. One fairly common one that I’d like to address is the confusion of wealth with money.

Wealth consists of the actual goods and services that are available to a person. Food, medicine, clothing, houses, televisions, computers, jewelry, the services of a doctor–all of this is wealth.

Money, on the other hand, is the medium of exchange used to indirectly barter wealth. Unlike wealth, having money does you no good by yourself on an island. If the money supply in an economy is doubled, this does not increase the amount of wealth in that economy. What increases wealth in an economy is the production of material goods and the offering of valuable services.

The confusion between money and wealth tends to arise because, on an individual level with a given money supply, the way one gets access to more wealth is to get more money. But the way money translates into wealth is not a simple “more nominal money equals more wealth,” but “having a greater percentage of the money in the economy entitles one to a greater percentage of the wealth in that economy that one doesn’t already own.” Money is a claim to the wealth produced by others, (who are willing to sell) relative to the total money supply and the total wealth.

Money--Wealth Ratio

When people create wealth by producing valuable goods from raw materials or using skills to offer services, then trade these for money, they give value to the money in circulation. If they are able to produce wealth (of a type that’s needed/desired) faster than it’s consumed, they increase the value of the money in circulation. Since there are more goods and services chasing the same amount of money (assuming no more money is printed/created) the prices of the goods and services decrease. Continue reading

Mainstream Radio Talks About Atlas MD


Bill Handel on Atlas MD

America Before The Entitlement State

This article by Yaron Brook and Don Watkins should be seen by all Americans, and indeed, everyone else. It describes how people dealt with sudden injuries, deaths and the various disasters that can befall people, before government welfare programs and Social Security:

America Before The Entitlement State

Here’s a video reading of a part of an essay from Capitalism: The Unknown Ideal by Ayn Rand:


Related Posts:

19th-Century Capitalism Didn’t Create Poverty, But Reduced It

How to Show That Taxation is Robbery

QuickPoint 2: Altruism Supports Coercion…

The Nature of the Morality of Rational Egoism: Short Notes

19th-Century Capitalism Didn’t Create Poverty, But Reduced It

Here’s an article by Yaron Brook and Don Watkins on the near-laissez-faire capitalism of the 19th Century:

Capitalism In No Way Created Poverty, It Inherited It


Related Posts:

How to Show That Taxation is Robbery

QuickPoint 2: Altruism Supports Coercion…

Why “Anarcho-Capitalism” is Wrongheaded

The Nature of the Morality of Rational Egoism: Short Notes

The False Freedom of “Equality of Opportunity”

In mainstream discourse in the US, “equality of opportunity” is taken as an uncontroversial rallying cry for both “conservatives” and “modern liberals.” It’s typically seen as a more reasonable alternative to the openly socialist “equality of results.”

Don Watkins, of the blog, LaissezFaire, has written two posts exposing the fact that “equality of opportunity,” taken literally, is just as irrational and unjust a notion as “equality of results.” (If it’s not taken literally, then it’s an extremely vague term and shouldn’t be used.)

What matters for the justice of a society is not “equality of opportunity” but the absence of initiated coercion.

Just Say “No” to Equality of Opportunity

Who Needs Opportunity?


Related Posts:


How to Show That Taxation is Robbery

QuickPoint 2: Altruism Supports Coercion…

The REAL Fiscal Cliff









Related Posts:

What Caused the Financial Crisis: It Wasn’t Capitalism or Deregulation

What Caused the Financial Crisis: It Wasn’t Capitalism or Deregulation


Here is a short video on what caused the crisis:


The Financial Crisis: What Happened and Why

Ayn Rand’s essay: What is Capitalism? (YouTube audio)

Capitalism at The Ayn Rand Lexicon.


Related Posts:

Wealth is Created by Action Based on Rational Thought


Wealth is Not Money — Monetary Wages vs. Real Wages

How Business Executives and Investors Create Wealth and Earn Large Incomes

The REAL Fiscal Cliff