Who should own money?
Arthur Blaustein, professor of social policy and community development at UC Berkeley was our guest on our radio talk show “The Fairness Doctrine.” After bemoaning a lack of economic education in America, the progressive professor laid out his economic theory. Intoning age-old clichés, the good professor spoke of the “vast income disparity” between the “top 1%” and the rest of America.
He held the “millionaires and billionaires” responsible for high unemployment and poverty. He earnestly spoke of the need for “income redistribution” and called for a fair division of “the pie.”
Yet, with respect, it is Professor Blaustein who needs an economic education. His reference to the “pie” was revealing. Viewing money as a pie is viewing money as a finite commodity and money is neither. Money is not finite but is infinite, as infinite as the human imagination. Money is not a commodity but is an abstract expression of human creativity. Money is evidence of advancement and accomplishment. Money is an abstract storage of value, a means of exchange, and a means of measuring time.
For example, the late CEO of Apple Computer, Steve Jobs…..
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SEE ALSO:
The Tipping Paul by David Klein ~ “A pivotal moment in his life came when Richard M. Nixon closed the gold window in August 15th, 1971. Effectively severing the last link the dollar had to gold and claiming “we are all Keynesians now”, officially turning money into a political tool as opposed to something with intrinsic value.”
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