political freedom

In addition to gracious help from Indians, what moved the Pilgrims from starving to thriving?

The first winter for the Pilgrims was terrible. Between starvation, pneumonia, and tuberculosis, about half died.

The second winter was terrible, again with little food. Those who survived the first two winters only did so by the goodness of the Native Americans who graciously shared their food.

The third winter was far better, with plenty of food. In a few years, there was enough abundance that the Pilgrims had paid off their debt to those who financed their trip. They were alive, thriving, and free of debt.

Those are a few highlights of the Pilgrims’ story told by Karl Denninger in his article from 2006, which is reposted at Market-Ticker:  The Truth About Thanksgiving.

What caused the change from starving to thriving is the part of the story I never heard growing up.

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By Jim Ulvog, ago

At its core, capitalism is moral

At the most foundational level, capitalism is moral.

The only way to succeed in the long-term is to treat customers well and honestly. That will provide money to the company to continue paying staff and vendors as well as leaving a profit for owners.

If a company does not deliver a quality product or service that customers value with higher utility to them than the cost to provide by the company, then the company won’t be around long.

At the core level, it is moral to satisfy your customers with profit left over.

CPA Ron Baker makes this point more eloquently than me in his LinkedIn article, Are Corporations Socially Responsible?

By the way, the answer is yes.

(Cross-posted from my other blog, Attestation Update.)

If a corporation provides value to customers, both the company and customer will be better off after the transaction than before. That is a positive social value.

Doing so, within the framework of the law (as Milton Freidman points out) is the duty of a business and it is also highly socially responsible.

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By Jim Ulvog, ago

Your thinking experiment for the day: What economic and political system exists in one country with expanding oil production and another country with collapsing production?

Consider the following two stories.

One country with rapidly expanding oil production with no end of the increase in sight. The other country is a member of OPEC and will start importing light crude.

I’ll ask two questions after mentioning the articles, which are reposted from my other blog, Outrun Change. (more…)

By Jim Ulvog, ago

Illustration of creative destruction: lots of Fortune 500 companies disappeared over the last 60 years

What sets apart each of these groups of companies?

Group A: American Motors, Brown Shoe, Studebaker, Collins Radio, Detroit Steel, Zenith Electronics, and National Sugar Refining.

Group B: Boeing, Campbell Soup, General Motors, Kellogg, Proctor and Gamble, Deere, IBM and Whirlpool.

Group C: Facebook, eBay, Home Depot, Microsoft, Office Depot and Target.

Mark Perry, writing at Carpe Diem, explains: Fortune 500 firms in 1955 vs. 2014; 89% are gone, and we’re all better off because of that dynamic ‘creative destruction’.

(This article is cross-posted from my other blog, Outrun Change. You will see why momentarily.)

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By Jim Ulvog, ago

Astounding progress everywhere in everything over last 50 years – No better time to be alive than today.

As a break from the dreary news headlines, consider the progress made over the last 50 years in a variety of areas.

This article is cross-posted from my other blog, Outrun Change. Can you see the connection of the following items to economic freedom and political freedom?

Matt Ridley offers a lot of Reasons to be cheerful.

Here is an overview:

Compared with any time in the past half century, the world as a whole is today wealthier, healthier, happier, cleverer, cleaner, kinder, freer, safer, more peaceful and more equal.

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By Jim Ulvog, ago

Choosing between liberty and equality? How about both?

There is a long-running debate between those who choose equality as the foundation for all policies and decisions on one hand, and those who choose liberty as the foundation on the other hand. The underlying goal of both options is to help others and make life better for all.

The Wall Street Journal addresses these differing approaches in Free People, Free Markets: (more…)

By Jim Ulvog, ago

Pondering the 4th of July makes me wish everyone on the planet enjoyed economic, religious, and political freedom

Been pondering today how thrilled I am to have:

  • the political freedom to write five blogs,
  • the economic freedom to run my own company the way I wish and see as much success as my effort, skills, & drive can create independent of the income level of my father when I was born or where his parents came from, and
  • the religious freedom to worship as I see the bible suggests worship should be conducted, in a church where the preacher preaches the word as we in my fellowship believe it ought to be preached, and I can teach the bible as we believe it is meant to be taught.

(cross posted from my other blog, Outrun Change.)

That freedom is a rarity on the earth today and unheard of for all of history until around, oh, say 300 years ago.

Oh how I wish that everyone on the planet could be blessed with that economic, political, and religious freedom.

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By Jim Ulvog, ago