The richest and wisest man who ever lived, Solomon, counseled us in the Book of Proverbs that “the prosperity of fools will destroy them.” Notice that Solomon did not say prosperity will ruin anyone, but the fool only. So his wisdom is simple: If you have wealth, don’t be a fool with it and you will remain prosperous. If you want wealth, remain wise and not foolish and you will gain it, and hopefully keep it.
Now let us look at that foolish institution called the United States government.
Our great country grew from a late 18th century economic joke into the world’s super economy in a little more than a century, with much of the phenomenal growth coming in a 50-year period from 1865 until World War I. Using wise policies the United States led the globe in every conceivable economic category as the 20th century began, and all because of free market capitalism. The government was largely absent. Continue reading