Libertarian Preparation Part 7: Pursuing Wealth

Almost all of us pursue wealth. There are some people in society who have a different value system, and wealth means very little to them, but for most of us wealth represents security and acquisition of the means to do and experience things we enjoy -- to pursue happiness.

Free, capitalist countries have shown to be more prosperous than countries under some form of socialism, but great wealth has also shown to create class envy and warfare. It appears that many people haven't mastered the concept that wealth is created through productive activity, that there isn't a limited amount of money sitting somewhere that shrinks when someone becomes wealthy. If I start a business and make a million dollars, that doesn't take money away from anyone, it justs adds to the total amount of wealth, just as if I lose that million it doesn't take money away from others, unless there are people dependent on me making money and not losing it, such as an employee or supplier, but even then it doesn't directly take money from their amount, it just means they won't be creating their wealth off money I had been supplying for a productive activity on which they were dependent (and I was dependent on them, too). If I went out of business, the employee would not get any more paychecks from me, and the suppliers would not have my business.

We should be joyous when people create wealth, because it adds to the total amount of wealth. If I create a million dollars of wealth from a productive business, then I will spending it at stores, buying things, putting it in a savings account so that others can borrow it, investing in another business through stocks so the business can survive or grow, perhaps expanding my business and hiring more people who may be out of work.

Creating wealth is a good thing that helps others. It also means I'm not directly dependent on others to take care of my wants and needs -- I don't have to ask anyone to give me money, because I'm making my own. Ayn Rand once said, and I'm paraphrasing, that one of the best ways to fight poverty is to not be poor. But speaking of poverty, a wealthy society is also a more generous society. As I mentioned in another post, we've barely tapped into our charity potential, and charity is hampered by high taxes and the idea that government will take care of the poverty problem. As many libertarians, and other free, objective thinkers, have claimed, pertaining to inequality of wealth, is that the major cause for wealth inequality has been government intervention/regulation in the economy which favors some economic endeavors over others, thereby rewarding some buisness enterprises and punishing others, interfering with competition and blocking smaller players from rising through hard-work, better ideas and quality.

The idea that great wealth in a society causes consumerism and a materialistic society which slowly erodes culture and spiritual pursuits is also an unproven propostion that is contradicted in reality. America's great wealth, historically, has allowed more people to pursue spirituality and culture -- art, music, religion and spiritual diversity abound in this country. It's difficult to be spiritual and cultured in dire poverty. A mature society can separate business and soul-pursuit, or combine both with no damage to the spirit. Even in business for many people there's a deeper understanding of the spontaneous order that arises -- a type of beauty in the actions at play which aren't planned in a central government committee, but rather the results of millions and millions of free choices. 

We still have a problem with poverty in America, but pursuing and creating wealth is not the cause. A large part of the answer lies in an enlightened national mindset regarding wealth, and a separation of government and economy which allows the economy to grow and create more opportunities for people to create wealth.