February 19, 2004

Michael Novak....

....makes the moral case for capitalism.
Envy is the most characteristic vice of all the long centuries of zero-sum economies, in which no one can win unless others lose. A capitalist system defeats envy, and promotes in its place the personal pursuit of happiness. It does this by generating invention, discovery, and economic growth. Its ideal is win-win, a situation in which everyone wins. In a dynamic world, with open horizons for all, life itself encourages people to attend to their own self-discovery and to pursue their own personal form of happiness, rather than to live a false life envying others.
I used to think it nearly diabolical, a plot, a conspiracy, that most employers seem to pay just enough to allow you to make a living, with a tuppence left for retirement purposes (i.e. when you are elderly and no longer productive enough for them). But I see a rough justice for the average income earner who lives comfortably to have to work till 60. Superachievers, either on the income side or the savings side, earn their early retirement option. That's what I tell myself.

Ham of Bone wants to drastically lower expenses by moving to a trailer in the Arizona desert or living the ex-pat life in sunny Mexico. Not surprisingly, his wife ain't buying what he's selling.

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