Wednesday, September 4, 2013

Cheering for Economic Suicide

In a capitalist system, one's wealth is usually the result of one's efforts.  Even for those who are born wealthy, absence of a minimum degree of wisdom and prudence usually results in the speedy squandering of such wealth, if not the forfeiture of one's life as well.  As Edmund Burke rightly noted, an inheritance can be seen as the passing of a legacy from one generation to the next, thus encouraging the subsuming of private passions in favor of a future, perhaps yet unborn generation.  Such willingness to see to the future requires foresight, and the passing of a legacy requires self-discipline and inhibition of one's own appetites.  It transforms the greed of acquisition into altruistic caring for the future.

Therefore, the defense of private property is not just about the defense of a work ethic.  Such defenses are usually composed of laws.  To violate the principle of private property is usually the first sign of a breakdown in law and order.  That Argentines are foolish enough to elect representatives who strike at the very notion of private property guarantees that country's decline.  All the signs suggest that their people have not discovered what private property actually represents.  Therefore, that country's suffering is likely to deepen.

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