Because human beings know things that are physical and know things that
are spiritual both are seen as realities. Interestingly, as the lower aspirations
– which tend to be physical needs – are fulfilled higher aspirations are
sought. The higher aspirations like love, loyalty, and friendship are not
physical things; nevertheless they are the realities, the realities of human
beings who are in a state of higher aspirations.
Methodological dualism defines the seemingly insurmountable bridge
between “the external world of physical, chemical and physiological phenomena
and the internal world of thought, feeling, valuation and purposeful action.” [Mises in Human Action, Fourth Revised Edition (San Francisco: Fox
& Wilkes, 1996), p. 18]
The cusp of social sciences is always near this enigma. The exploration of the
human mind is the task at hand and it will be a task of primary importance for
the foreseeable future.
Consider one evident manifestation of dualism: the act of rational
self-interest that ultimately leads to the well-being of all. This is the very essence
of the divine economy! As you can see the divine economy must be profound
indeed!
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Monday, October 28, 2013
Tuesday, October 22, 2013
Profit Motive - Agent Of Continuous Economic Progress.
In the unhampered free market we have individuals,
demand and supply, prices, production, and profit and loss all working
beautifully to allocate limited resources to meet the unlimited wants as best
as possible. Ultimately then, it is the profit motive of the profit seeker that
acts upon the market process, stimulating production to increasingly meet the
needs of the consumer. Therefore it can be said that the profit motive serves
as an agent of continuous economic progress.
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Monday, October 21, 2013
The Fantasies Of Empirical Economists Are Destructive.
Those who are
removed from the market and who are out of touch with how production needs to
change to meet the demand cannot contribute anything. These are the empirical
economists! They assume away the essential characteristics of how demand really
operates in the market – that it is intimately tied to subjective valuation.
That erroneous fantasy is the starting point of their arbitrary and destructive
economic intervention.
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Thursday, October 17, 2013
Why Tolerate The Destruction of Profit - The Prime Generator Of Income?
Since profit is the prime generator of other
incomes the destructiveness of monetary economic intervention on interest
rates and on both entrepreneurial profit and the purchasing power component of
profit have repercussions and reverberations throughout the economy.
Other types of economic intervention (e.g. regulations) also constrain prices or production causing either shortages or surpluses that cannot be remedied by the natural market processes because of the coercive characteristics of the intervention. This is what happens in the unnatural condition of a hampered economy because it is being subjected to this type of political corruption of the economy.
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Other types of economic intervention (e.g. regulations) also constrain prices or production causing either shortages or surpluses that cannot be remedied by the natural market processes because of the coercive characteristics of the intervention. This is what happens in the unnatural condition of a hampered economy because it is being subjected to this type of political corruption of the economy.
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Monday, October 14, 2013
Know The Three Profit Components.
Profit has
three components. The pure interest component is shared alike by production for
profit and by other investments earning interest. What is expected for
sacrificing present consumption for future consumption is the pure interest
component. It is an expression of the natural time preference. No action would
be taken if this pure interest component is not present.
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The second
component is entrepreneurial profit which comes about because the future is
unknown. Ex ante estimates for production and price are guesses with a certain
amount of entrepreneurial profit potential. Astute entrepreneurial perception
may lead to a lessening of the risks taken despite the uncertainty faced.
Alertness then to the market reaction – ex post – is mostly where the
entrepreneurial profit component is captured. For instance if excess demand is
discovered early in the selling period a raising of the price would lead to
increased profits making the entrepreneurial component of the profits larger.
Of course also, a lack of entrepreneurial perception could lead to losses.
The third
profit component is the purchasing power spread. This element is mostly seen
nowadays as a phenomenon of monetary intervention which causes the purchasing
power of the currency to decrease due to inflating the money supply. A profit
margin has to be built into the ex ante price because it takes time before the
product reaches the market. Ex post the purchasing power will have declined when
there is inflation making real profits significantly less than nominal profits.
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Sunday, October 06, 2013
Production Is Always A Prime Candidate For Investment.
Why take the
risk? The margin between the selling price and the per unit cost of a product,
the price spread, is enticing as long as it is equal to or greater than other
opportunities, such as earnings from investing in financial assets instead of
production. Since production is the most basic of all endeavors it is always a
prime candidate for investment. Potentially, profits emerge from production.
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Monday, September 30, 2013
Investors Prefer Profitable Firms.
Market demand
is out there. The profitable firms hold onto consumers’ demand by the means of
product differentiation, and they innovate, lowering costs and prices. All of
this catches the attention of investors. Since investors prefer profitable
firms more capital is made available to them. Alert firms that command
sufficient capital funds will be the ones that fill the market demand gaps.
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Thursday, September 26, 2013
Profit Seeking Advances The Tendency Towards Homogeneity!
Profit seeking
has a revelatory effect in the economy. Seeking profit opportunities by
examining them relative to each other, reveals what people want. This
continually directs resources towards the production of those particular goods
and services. The reason differential profits are possible in the real world is
because not all firms are equally innovative or even able to mimic the
innovation of others. In the real world innovation is an advantage, yielding
differential profits because there is a lag time before others can catch up.
The talents and creativity within firms is not equal and so part of the competitors’
strategy to catch up with the innovator is to lure away key personnel, along
with intensifying both market research and product research and development.
As a consequence, profit seeking advances the tendency towards homogeneity, ironically offsetting the tendency for product differentiation. Necessarily, the tendency is for the rate of profit among close competitors to become equalized. Economy-wide profit-seeking leads to the tendency for profits in all of the different fields of endeavor to equalize in the market.
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As a consequence, profit seeking advances the tendency towards homogeneity, ironically offsetting the tendency for product differentiation. Necessarily, the tendency is for the rate of profit among close competitors to become equalized. Economy-wide profit-seeking leads to the tendency for profits in all of the different fields of endeavor to equalize in the market.
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Monday, September 23, 2013
Profit Seekers Create The Possibility Of Greater Cooperation.
In the real
world it is the producer who most often takes on the role of perceiving and
making changes, motivated by profit opportunities. Many of the opportunities
for more efficient use of resources simply go unnoticed by non-producers
because only those who are involved in the production process actually
encounter them or understand them. Often these opportunities are the result of
imperfect coordination between transactions in the resource markets and in the
product markets. By involvement in the market process profit seekers create the
possibility of greater cooperation between otherwise disconnected segments of the
economy.
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Friday, September 20, 2013
The Profit Seeker Is A Risk Taker.
Profit seeking
is just that – seeking. There is no guarantee. The profit seeker is a risk
taker that uses market prices to determine what to produce or what can be
produced more efficiently. The risks taken to initiate new production or
improved production will yield various outcomes such as: lower price, better
quality, and/or product differentiation.
The enticing wonder of the discovery of a profit opportunity, which keeps the entrepreneur coming back and entering into the market process, is the discovery of something obtainable for nothing at all. It is the same as the quest of the explorer and the artist and the scientist and the philosopher – to discover something never known before. The profit seeking motive is this same motivation, this same human phenomenon. Therefore as you can see, the profit seeking motive is part of the human operating system, something to be appreciated – not to be condemned as an evil.
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The enticing wonder of the discovery of a profit opportunity, which keeps the entrepreneur coming back and entering into the market process, is the discovery of something obtainable for nothing at all. It is the same as the quest of the explorer and the artist and the scientist and the philosopher – to discover something never known before. The profit seeking motive is this same motivation, this same human phenomenon. Therefore as you can see, the profit seeking motive is part of the human operating system, something to be appreciated – not to be condemned as an evil.
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Wednesday, September 18, 2013
Actions of Profit Seekers Benefit Everyone.
We humans,
endowed with the propensity for alertness and classified as Homo agens,
act upon the information about what is valuable. Some are passive, only finding
ways to increase their own happiness. Others are out there as profit seekers,
and their actions benefit everyone.
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These profit
seekers try to identify the relevant ends-means framework and how to make it
more efficient. Through their efforts to discover price differentials
throughout the economy and along the time horizon they bring to the surface
market knowledge. Their actions benefit themselves but also everyone else.
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Wednesday, September 11, 2013
Profit Maximization Is A Fleeting Thing!
It is
inaccurate to describe human beings as merely profit maximizing economizers! First
of all, decisions made by humans are not simply monetary. There is a psychic
cost, the lost ‘utility’ of the next best alternative that one has to forgo, to
every action taken. And there is a psychic revenue that results from the
increase in happiness that comes from the action chosen.
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In this sense
profit is purely subjective and cannot be measured. Even if we were speaking
about both monetary and non-monetary profit, profit maximization is a fleeting
thing since the real world is always in a state of disequilibrium, never really
reaching equilibrium.
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Saturday, September 07, 2013
There Is Nothing Evil About Profit.
In the real world of uncertainty
and imperfect knowledge there are no guarantees. The market process ultimately
determines the selling price and the market price determines all costs. (Remember
the backward reaching effect of derived demand? If not, contact me and I will explain.)
In the end the result may be a profit or it may be a loss. And since production can continue only if it yields positive results (i.e. yielding a profit) there are limits to production. Unequivocally, it must be clearly stated that there is nothing evil about profit. It is what motivates production despite the uncertainty!
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In the end the result may be a profit or it may be a loss. And since production can continue only if it yields positive results (i.e. yielding a profit) there are limits to production. Unequivocally, it must be clearly stated that there is nothing evil about profit. It is what motivates production despite the uncertainty!
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Thursday, September 05, 2013
Consumers Are Often Passive Entrepreneurs.
There is a
seamless nature to production. Everyone along the way contributes, everyone
along the way is a ‘middleman.’ The process of production includes every step,
all the way up until the good is consumed, including making the consumer aware
of the availability of the product and the desirability of the product.
Everywhere along the production line someone playing this particular role of a
middleman will perform this service. All of these ‘selling costs’ are all a
part of the process.
Since consumers are often passive entrepreneurs it is the producer who must complete the production process by taking active steps to get the potential customers to know about these purchase opportunities. Producers reduce the uncertainty of the total supply on the market by product differentiation but this then suggests that the producer needs to educate the consumers about the product.
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Since consumers are often passive entrepreneurs it is the producer who must complete the production process by taking active steps to get the potential customers to know about these purchase opportunities. Producers reduce the uncertainty of the total supply on the market by product differentiation but this then suggests that the producer needs to educate the consumers about the product.
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Sunday, September 01, 2013
Use-Value Production.
There are
three types of production for use-value. The first one is production for a more
useful form. The second is production for the place more
preferred or more valued. And finally there is production that is made
available at a more desirable time. Capital and especially the
combination of capital and storage make time production feasible. Producers’
goods are examples of time use-value.
Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.
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Due to the equilibrating power of arbitrage the economy operates and is characterized by the tendency towards the principle of uniformity-of-profit. This is what keeps in proper balance the production of all types, and of all of the different items that are directly or indirectly necessary for our survival.
Friday, August 30, 2013
Halting Of The Competitive Process In Disequilibrium.
If in any one
period the competitive process comes to a halt it does not mean a failure of
the process. Disequilibrium – the real world condition – is characterized by
widespread ignorance, meaning that despite all the alertness that market
participants have they still are unaware of all of the opportunities that
exist. In this sense the competitive process is in a ‘potential’ state but as
soon as the opportunities are perceived they will be pursued in a most
competitive way.
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Wednesday, August 28, 2013
Savings And Investment Makes It Possible.
Practically speaking there are two
types of productive endeavors in the economy. Either long processes that are
more productive or short processes that are less productive. These have to be
chosen from and it is savings and investment which makes it possible to choose
the processes that take a long time.
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Sunday, August 25, 2013
The First Stage Of Production After Discovery Is Ex Ante.
The producer,
acting like an entrepreneur in a competitive environment, searches high and low
for profit opportunities. The producer (as if it is easy) merely needs
to know where to buy resources at a price worthwhile to produce, such that the
product can be sold at an attainable price in the future! Once found the
producers’ actions signal that a discovery was made.
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The first
stage of production just after this ‘discovery’ is ex ante; estimating,
speculating, planning and investing. The second stage follows, which is the act
of physical production signaling that a previously unperceived revenue
possibility may indeed have been found. This is the ‘announcement’ made by
beginning production.
As part of the production process
there is what is called a derived demand for factors of production. Resource
owners who find the payment offered by producers sufficiently attractive to
make them willing to sell their resources do so. Wage earners fit into this
category. Resource owners can also play the role of a capitalist if they are
willing to sell their resources under an agreement which promises them revenue
only at some time in the future.
Wednesday, August 21, 2013
The Impetus Behind Production.
The impetus
behind production is the consumer’s desire for better quality, more choices and
lower prices. Of course, production is prior to consumption. Consumers have the
power to change the course of production by changing their spending patterns.
Prices for factors come backwards from consumption and all of these market
prices tell the producers what to produce and in what quantity. Being alert in
this competitive environment, it is the producer who serves as a ‘built-in’ entrepreneur.
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Monday, August 19, 2013
The Rich Drama Of Production.
It is towards
consumer sovereignty, meeting their needs and wants, that producers must orient
themselves. The firm enters the market with a price in mind but not knowing the
true market price. Accordingly this producer has already committed to producing
X units in this particular production cycle. This is the beginning of the drama
that unfolds. In this opening act adjustments will need to be made. As the
drama unfolds we encounter the unpredictable features of the market:
uncertainty and changes taking place over time. It is an unending drama, richly
human.
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Sunday, August 18, 2013
Cartels And Monopolies Cannot Form In A Free Market.
Since firms face a more elastic demand curve than
does an industry the equilibrium forces inherent in the market economy would
tend to break any attempt to form a cartel. This is because: if a firm charges
a lower price than the cartel price the result would be a significant change in
the quantity demanded from the firm (drawing buyers industry-wide) and total
revenue would increase for the firm. The increased total revenue is an
irresistible incentive, enticing a firm to break the cartel.
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Monday, August 12, 2013
Competition And Entrepreneurship Are Analytically Inseparable.
Competition
and entrepreneurship are analytically inseparable in the market. The
entrepreneurial alertness to these hitherto unnoticed opportunities is almost
always exercised throughout the economy by many individuals at the same time.
It is not the entrepreneurs who are generating the opportunities, but rather
alertly responding to opportunities is their function in the market.
The individual, referred to in the economic literature as ‘Homo agens’ is endowed with the propensity for alertness. Alertness is why the market is universally a learning experience and why fresh goals are continually surfacing and why previously unknown resources are discovered.
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The individual, referred to in the economic literature as ‘Homo agens’ is endowed with the propensity for alertness. Alertness is why the market is universally a learning experience and why fresh goals are continually surfacing and why previously unknown resources are discovered.
Sunday, August 11, 2013
The Market Process Is A Learning Process!
Individuals progress day by day and moment to moment. This is all a part
of the learning process. As a consequence of the learning process there is a
pattern of change in an individual’s decisions. The unfolding experience of the
decisions themselves becomes part of the learning process with the goal being
to remove uneasiness and to make oneself better off, that is, to survive and to
prosper.
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Sunday, April 28, 2013
The Human - "Perpetually Entrepreneurial" - Being!
Of all of the undeveloped aspects of natural law, entrepreneurship in human beings is the most under-appreciated and the most under-correlated to the inherent economic behavior of human beings. For some reason the science of economics is regarded as something that emerged as a discipline rather than as being an essential feature of human action within the matrix of social cooperation. Humans exist and have a unique reality therefore the economy exists!
And so what about the natural law of a human being and how is that related to entrepreneurship?
All of the senses and the potentials of humans are used for perception. The human kingdom is expanded beyond the animal kingdom in ways that make the distinction clear but that does not mean that the greatness of the human kingdom is fully appreciated. Sometimes science hovers around the bare minimum and proudly proclaims that there is a distinction. What if the bare minimum is like the difference between a drop and the vast oceans?
A major deficiency in economic science is the appreciation of the entrepreneurial spirit of human beings. Even those relatively few that have identified the primacy of entrepreneurship are reluctant to fully embrace its natural potency because 'science' has taught them that there is a disharmony between science and religion.
How can the full potential of entrepreneurship be appreciated and how can it be correlated to the inherent economic behavior of human beings if the spiritual nature of humans (the physical and intellectual natures are recognized) is ignored? In a nutshell humans are seekers after truth; that is their spiritual nature (some of this can be incorporated as part of the intellect but not all of it).
It is because of this weakness in the understanding of natural law as it pertains to human beings that entrepreneurship is only partially able to be explored scientifically. Hence these are the Dark Ages of economics!
There are three kinds of entrepreneurs and all human beings are at various times and places functioning as one of the them. In other words, the potential of alertness exhibited by human beings is a synonym for the concept of a seeker after truth. Humans are all entrepreneurs because they are the possessors of the entrepreneurial spirit (seekers after truth). They are either unalert or they are alert (and inactive) or they are alert and active.
I will give a few stark examples to make the distinctions clear. 1). A person who is very ill or a person under the influence of a drug may miss opportunities because of a lack of alertness. 2). A person who is without many means but who is alert may discover opportunities but then cannot take action to benefit from the opportunities. 3). A person who may or may not have means but who is alert and discovers opportunities and takes action to use or find the means necessary to take advantage of the opportunities.
How deprived our 'education' system is! It ignores the true nature of humans and it ignores the most powerful agent in the world of social cooperation.
It is time to flip the light switch of illumination to dispel the Dark Ages of economics!
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And so what about the natural law of a human being and how is that related to entrepreneurship?
All of the senses and the potentials of humans are used for perception. The human kingdom is expanded beyond the animal kingdom in ways that make the distinction clear but that does not mean that the greatness of the human kingdom is fully appreciated. Sometimes science hovers around the bare minimum and proudly proclaims that there is a distinction. What if the bare minimum is like the difference between a drop and the vast oceans?
A major deficiency in economic science is the appreciation of the entrepreneurial spirit of human beings. Even those relatively few that have identified the primacy of entrepreneurship are reluctant to fully embrace its natural potency because 'science' has taught them that there is a disharmony between science and religion.
How can the full potential of entrepreneurship be appreciated and how can it be correlated to the inherent economic behavior of human beings if the spiritual nature of humans (the physical and intellectual natures are recognized) is ignored? In a nutshell humans are seekers after truth; that is their spiritual nature (some of this can be incorporated as part of the intellect but not all of it).
It is because of this weakness in the understanding of natural law as it pertains to human beings that entrepreneurship is only partially able to be explored scientifically. Hence these are the Dark Ages of economics!
There are three kinds of entrepreneurs and all human beings are at various times and places functioning as one of the them. In other words, the potential of alertness exhibited by human beings is a synonym for the concept of a seeker after truth. Humans are all entrepreneurs because they are the possessors of the entrepreneurial spirit (seekers after truth). They are either unalert or they are alert (and inactive) or they are alert and active.
I will give a few stark examples to make the distinctions clear. 1). A person who is very ill or a person under the influence of a drug may miss opportunities because of a lack of alertness. 2). A person who is without many means but who is alert may discover opportunities but then cannot take action to benefit from the opportunities. 3). A person who may or may not have means but who is alert and discovers opportunities and takes action to use or find the means necessary to take advantage of the opportunities.
How deprived our 'education' system is! It ignores the true nature of humans and it ignores the most powerful agent in the world of social cooperation.
It is time to flip the light switch of illumination to dispel the Dark Ages of economics!
Check out my new website: http://bruce-koerber.squarespace.com
Saturday, December 22, 2012
Capital - The Benefactor Of Humankind.
Why would you ignore an opportunity to both earn an
income and to serve others? If - as a result of capital, a new method of
production or a new product or some other improvement occurs such that the
initiator of that production or product or improvement generates wealth and
serves others - that is to say, if you can also be such a benefactor by using
capital then why would you not? Even if you do not, others will in a free market economy!
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In other words
the appearance of profit and the appearance of something that is of service to
the needs and wants of humankind attracts others to enter into this arena of
profit and service. Consequently the profit margin approaches zero and profit
then has to make its appearance in another place where a new method of
production or a new product or some other improvement occurs such that the
initiator of production or of a product or of an improvement generates wealth
and serves others.
This is how capital serves as a benefactor to humankind in a free market economy (the divine economy).
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Saturday, December 08, 2012
Selfishness/Self-Interest Is Meaningless Without Understanding Subjectiveness.
Some "modern professional economists" "deny the importance of choice, action, subjective judgments, etc. in making predictions or interpretations of economic events." They are likely to use the term 'self-interest' not 'selfishness.' Consequently 'self-interest' is a term used with only a surface-level recognition of what it truly represents, and so it is that there are plenty of references to 'self-interest' in the economic literature. When the term is used by subjectivists it is correct. When it is used by empiricists it is a half-truth upon which fallacies are built.
In other words, is it possible to build anything worthwhile on a flawed foundation?
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In other words, is it possible to build anything worthwhile on a flawed foundation?
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Saturday, December 01, 2012
All Value Is Subjective !!!
For a moment imagine the world without any human beings. Not intending to offend any animal lovers or lovers of nature, the idea of value would not exist without the existence of human beings! Sure, things would be needed and used but without a conceptualization of value.
Value exists because humans exist.
Humans do not exist as a social blob but rather as individuals who exercise social cooperation. Within the context of social cooperation there are ways for each unique human being to identify what is valuable within the context of that individual's life. In other words, humans value things subjectively.
Now we have arrived at the simple but monumental point: all value is subjective!
Value only exists because humans exist and all humans value things (material and ideal) subjectively. This is of very great significance when considering the proper scientific method for the study of human sciences. Subjectivism is the true scientific method for the study of human action.
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Value exists because humans exist.
Humans do not exist as a social blob but rather as individuals who exercise social cooperation. Within the context of social cooperation there are ways for each unique human being to identify what is valuable within the context of that individual's life. In other words, humans value things subjectively.
Now we have arrived at the simple but monumental point: all value is subjective!
Value only exists because humans exist and all humans value things (material and ideal) subjectively. This is of very great significance when considering the proper scientific method for the study of human sciences. Subjectivism is the true scientific method for the study of human action.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Thursday, October 18, 2012
Microeconomics Magnifies Human Qualities.
The transformation that is part of the divine economy and which is shown graphically in the divine economy model manifests itself both outwardly and inwardly. This is true at the macro level too, but it is perhaps most evident for each of us to see at the micro level. In a society where the corruption caused by intervention is not present - in an unhampered market economy - the qualities that lead to successful commerce are also very actively sought after as the features of the right way of living, and vice versa. In other words, both the inner life and the external conditions are prone towards the ethical standards set forth for that epoch.
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If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
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Saturday, December 10, 2011
Cutting-Edge Causal-Realistic Entrepreneurial Theory.
Production is creating something that did not exist, in a form that can be used functionally. Discovery derived from perceptual acumen is not production although it can be of great value in a productive endeavor. The intertwining of these two can cause the distinction between them to become cloudy but no more so than the intertwining of means and ends, which causes the artificial separation of ethics and economics. At some point science needs to reach the zenith of contemporary understanding and then to step further so that the state-of-the-art science is along the cutting edge! Divine economy theory is on the cutting edge of causal-realistic economics!
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If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Friday, December 09, 2011
Let's Put The Risk-Taking Of Entrepreneurship In Perspective.
To put the risk-taking of entrepreneurship in perspective: humans aspire for greatness and excellence and if they have the qualities of a well-trained mind then they seek mastery, whether it is climbing to the summit of an awe-inspiring mountain or learning a new piece of music or finding discrepancies in the market that can be remedied by entrepreneurial activity.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Saturday, March 05, 2011
Prices And Spontaneous Order.
I prefer to think of prices as the universal language of the universal market.
I agree that the word ''spontaneous' seems too narrow to describe the purposefulness of action. One way of regarding the 'natural order' of the economy is to regard it as alertly human.
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I agree that the word ''spontaneous' seems too narrow to describe the purposefulness of action. One way of regarding the 'natural order' of the economy is to regard it as alertly human.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Saturday, September 18, 2010
The Human Essence Of Economics Has To Do With Cause And Effect.
Understanding the human essence of economics reveals cause and effect, and the acquisition of virtues which leads to service, which leads to the discovery of and desire for the refinement of that virtue and/or the acquisition of other virtues, which leads to further service. This is the human essence of economics and it is all a part of the ever-advancing civilization which rests firmly on the free market.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Thursday, September 09, 2010
Where Does Entrepreneurship And The Arts Come Together?
Artists are human beings therefore they possess the entrepreneurial spirit. In that sense the pursuit of anything by anyone is entrepreneurial but one thing needs to be understood and that is that humans can be actively entrepreneurial or in latency. Speaking specifically about artists and assuming active entrepreneurship: their end product satisfies at least one person - the artist. The 'latent' artist may even generate a product but it brings little artistic satisfaction to the artist although it could possibly be a commercial success!
All people are entrepreneurial, either active or latent, which is another way of saying that the human reality has the powerful distinction of the investigation of truth. The degree of the pursuit after truth is directly related to whether the individual is an active or a latent entrepreneur regardless of 'profession.'
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or liberty and justice, please send them this link:
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All people are entrepreneurial, either active or latent, which is another way of saying that the human reality has the powerful distinction of the investigation of truth. The degree of the pursuit after truth is directly related to whether the individual is an active or a latent entrepreneur regardless of 'profession.'
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Friday, July 23, 2010
True Education Ignites The Spark Of Our Entrepreneurial Spirit.
Cameron Herold presents great specifics and relates it to himself and others like him. No doubt the education system - which is becoming increasingly just a vehicle for propaganda - fails kids with special traits but it also fails everyone else too. I suggest that the potential for entrepreneurial education is even more universal.
The entrepreneurial spirit is alertness and this is an essential characteristic of being human. It is the human expression of the search for truth. True education would be all about nuturing the search after truth, in other words, true education is wholly about developing the entrepreneurial spirit.
Cameron Herold gives numerous examples of ways to encourage entrepreneurial thinking specific to production. No doubt that kind of entrepreneurship raises the standard of living measurably, but all human action that is inspired by the search after truth, whether it is material or ideal, carries forward an ever-advancing civilization.
In essence there is no such thing as education unless it is built upon igniting the spark of the entrepreneurial spirit in each of us.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
The entrepreneurial spirit is alertness and this is an essential characteristic of being human. It is the human expression of the search for truth. True education would be all about nuturing the search after truth, in other words, true education is wholly about developing the entrepreneurial spirit.
Cameron Herold gives numerous examples of ways to encourage entrepreneurial thinking specific to production. No doubt that kind of entrepreneurship raises the standard of living measurably, but all human action that is inspired by the search after truth, whether it is material or ideal, carries forward an ever-advancing civilization.
In essence there is no such thing as education unless it is built upon igniting the spark of the entrepreneurial spirit in each of us.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Monday, July 05, 2010
Intellectual Property Often Neglects Recognition Of Its Source.
In essence all true wealth orignates from these ideal attributes and praiseworthy virtues. Their nature is eternal and not subject to dissolution. And just as they possess that potency they have no exclusivity. Anyone who comes to know something discovered in the invisible realm by thoughtful alertness is fully entitled to share it with others, therefore all restrictions are the result of manmade corruption of the sphere of knowledge.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Saturday, May 29, 2010
Classical Liberalism Definition Contest!
Can anyone give a more concise definition of a classical liberal than the following? A classical liberal is someone who recognizes individual sovereignty.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Sunday, April 18, 2010
Q: What Sort Of Information Do Prices Convey?
Prices reflect the value consumers subjectively ascribe to the qualities and attributes associated (or thought to be associated) with the good or service in a world constrained by scarcity.
In essence, prices are a reflection of both the material world and the spiritual world thus mirroring the human reality. The material world is what it is; depending on the knowledge and physical limitations that exist (scarcity) at that point in time. The aspirations for more perfection in the reflections of the name and attributes of God is what is behind the insatiable desire that is driving what is termed as 'unlimited demand.'
The market is where these forces become expressed as prices. The market process is where the entrepreneurial spirit creatively serves to improve the conditions of supply and to refine demand.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
In essence, prices are a reflection of both the material world and the spiritual world thus mirroring the human reality. The material world is what it is; depending on the knowledge and physical limitations that exist (scarcity) at that point in time. The aspirations for more perfection in the reflections of the name and attributes of God is what is behind the insatiable desire that is driving what is termed as 'unlimited demand.'
The market is where these forces become expressed as prices. The market process is where the entrepreneurial spirit creatively serves to improve the conditions of supply and to refine demand.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Monday, March 08, 2010
Competition Is A Meaningless Economic Concept, By Itself!
Competition in the market is held up as a mighty emblem by the ego-driven interpreters but actually it is a half-truth!
The essential reality of the market process can only be understood by acknowledging and respecting competitive entrepreneurship. To single out competition, as is done in the pseudo-economic world of empiricism, is similar to claiming that the atmosphere is made of oxygen. Depending on the degree of knowledge of the claimant that is either a half-truth or ignorance or a lie. Light a match and see if the atmosphere is 100% oxygen!
To understand the atmosphere the rest of its components need to be recognized. To understand the economy - which is a reflection of human action - the entrepreneurial spirit has to be recognized. In fact the two are inseparable and so the correct description of human action, and therefore of the economy at the loci of decision-making, is to refer to it as competitive entrepreneurship.
Empirical economists who talk about and postulate about 'competition' are talking nonsense and are engaged in a fantasy that is destructive. Further, the ego-driven interpretation that necessarily stems from these empirical economists just fuels the fire of ego-driven interventionism which is scorching the earth: destroying wealth, undermining peace, and spreading corruption and strife.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
The essential reality of the market process can only be understood by acknowledging and respecting competitive entrepreneurship. To single out competition, as is done in the pseudo-economic world of empiricism, is similar to claiming that the atmosphere is made of oxygen. Depending on the degree of knowledge of the claimant that is either a half-truth or ignorance or a lie. Light a match and see if the atmosphere is 100% oxygen!
To understand the atmosphere the rest of its components need to be recognized. To understand the economy - which is a reflection of human action - the entrepreneurial spirit has to be recognized. In fact the two are inseparable and so the correct description of human action, and therefore of the economy at the loci of decision-making, is to refer to it as competitive entrepreneurship.
Empirical economists who talk about and postulate about 'competition' are talking nonsense and are engaged in a fantasy that is destructive. Further, the ego-driven interpretation that necessarily stems from these empirical economists just fuels the fire of ego-driven interventionism which is scorching the earth: destroying wealth, undermining peace, and spreading corruption and strife.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Saturday, February 27, 2010
Refinement Of Competitive Entrepreneurship Microeconomic Theory.
The stage is wide. It is as wide as human life on this planet. Apparently every human endeavor is an example of how the human psyche works and how it becomes manifest and operable in the world. These are the signs and symbols of the wonders of human life and provide fertile ground for advancing the human sciences.
Take the Olympics as an example. Ignore the childish side of nationalism but acknowledge the national cultural distinctions that facilitate interregional diversity and competition. It sets the stage for one of the things that humans inherently like to do and that is compete. Ultimately the competition is personal, it is competition to improve one’s own performance in a competitive environment.
That is one half of the story. At the core there is a dualism identified as competitive entrepreneurship. Humans always function within that framework. There are degrees of latency that lead to distinctions between individuals, and that distinguish the performance of an individual from one point in time to another point in time, and there are times when one of either of these dual characteristics (competitive entrepreneurship) is relatively more latent or more active than the other in the life of an individual.
It cannot be imagined when competitive entrepreneurship is not the determining factor in the development (or lack of development) of individuals and unavoidably the development (or lack of development) of human civilization.
Humans desire to improve their condition and humans have the capacity to be alert to the potential possibilities that could lead to an improvement of their condition. That is their nature and that is competitive entrepreneurship.
Subjectivism at the microeconomic level acknowledges that competitive entrepreneurship illumines the praxeologic and economic content of human decision-making. This is the reason that the methodology of subjectivism is realistic and scientifically valid. Refining our understanding of competitive entrepreneurship is what will advance microeconomic theory!
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Take the Olympics as an example. Ignore the childish side of nationalism but acknowledge the national cultural distinctions that facilitate interregional diversity and competition. It sets the stage for one of the things that humans inherently like to do and that is compete. Ultimately the competition is personal, it is competition to improve one’s own performance in a competitive environment.
That is one half of the story. At the core there is a dualism identified as competitive entrepreneurship. Humans always function within that framework. There are degrees of latency that lead to distinctions between individuals, and that distinguish the performance of an individual from one point in time to another point in time, and there are times when one of either of these dual characteristics (competitive entrepreneurship) is relatively more latent or more active than the other in the life of an individual.
It cannot be imagined when competitive entrepreneurship is not the determining factor in the development (or lack of development) of individuals and unavoidably the development (or lack of development) of human civilization.
Humans desire to improve their condition and humans have the capacity to be alert to the potential possibilities that could lead to an improvement of their condition. That is their nature and that is competitive entrepreneurship.
Subjectivism at the microeconomic level acknowledges that competitive entrepreneurship illumines the praxeologic and economic content of human decision-making. This is the reason that the methodology of subjectivism is realistic and scientifically valid. Refining our understanding of competitive entrepreneurship is what will advance microeconomic theory!
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
Sunday, August 02, 2009
Is Divine Economy Theory Praxeology Or Economics?
The criterion used to make that determination is the one identified by Ludwig von Mises. Value judgments that can be based on quantitative economic calculations fall into the category of economics.
To the materialist a literal interpretation of this criterion removes the ethical foundation of economic relationships and although in some instances such an interpretation may not bias the analysis it nevertheless truncates the science of economics by removing a very important and essential aspect of economics. It can be likened to a body without the spirit.
For example, consider all the peach vendors in a city. Let’s assume that they all have the same quality of peaches (say they all get their peaches from the same orchard) and let’s assume that they all charge the same price (the vendors know that the people in the city have traditionally paid that price and that the culture of this particular city is traditional and conservative).
Now let’s say that one of the vendors is different from the others. He (or she) is friendly in a way that is very appealing. He (or she) cares about those who buy his peaches and this friendliness is readily perceived by those who buy peaches from him.
The economic result is the same as if this vendor had lower prices and it is exactly the same as having higher quality! The value judgment is preference of ‘a’ compared to ’b.’
Materialists may balk at this but as such they are really ego-driven interpreters who cannot see beyond the object and as a result try to remove the essential ethics from economics.
The divine economy theory identifies both the ego-driven interventionists and the ego-driven interpreters as impediments to the prosperity that is part of our ever-advancing civilization.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
To the materialist a literal interpretation of this criterion removes the ethical foundation of economic relationships and although in some instances such an interpretation may not bias the analysis it nevertheless truncates the science of economics by removing a very important and essential aspect of economics. It can be likened to a body without the spirit.
For example, consider all the peach vendors in a city. Let’s assume that they all have the same quality of peaches (say they all get their peaches from the same orchard) and let’s assume that they all charge the same price (the vendors know that the people in the city have traditionally paid that price and that the culture of this particular city is traditional and conservative).
Now let’s say that one of the vendors is different from the others. He (or she) is friendly in a way that is very appealing. He (or she) cares about those who buy his peaches and this friendliness is readily perceived by those who buy peaches from him.
The economic result is the same as if this vendor had lower prices and it is exactly the same as having higher quality! The value judgment is preference of ‘a’ compared to ’b.’
Materialists may balk at this but as such they are really ego-driven interpreters who cannot see beyond the object and as a result try to remove the essential ethics from economics.
The divine economy theory identifies both the ego-driven interventionists and the ego-driven interpreters as impediments to the prosperity that is part of our ever-advancing civilization.
Follow me on Twitter @DivineEconomy
If you know of anyone interested in ethics and economics,
or liberty and justice, please send them this link:
http://bruce-koerber.squarespace.com
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