Economics, First Lesson: What’s mine is mine.

Is it not lawful for me to do what I will with mine own? (Matthew 20:15)

The first lesson of economics is not supply vs. demand, or the calculation of the M1 money supply, or the theory of equilibrium.

The FIRST lesson of economics is this: What’s Mine is Mine.

Here’s how it works:  Let’s say you and I agree that if I cut your grass, you’ll give me a chicken as payment.  So I cut your grass, and you give me a chicken. 

Question:  Who does that chicken now belong to? 

Answer:  Me.

Another question:  How much of the chicken belongs to me?

Answer:  All of it.

Do the feathers of the chicken belong to me?  Yes.  How about the beak?  Yes,  How about…well, you get it by now.

Now let’s say that instead of a chicken you agree to give me a check worth ten dollars if I cut your grass.  Having cut your grass, and having received the check for ten dollars from you, now how much of that ten dollars is mine?  Hint:  See the chicken story above.

You guessed it right if you said “All of it.”  YES!  Every single dollar of the ten dollars is mine, all mine, and no one else can have it!  I have earned exactly one thousand pennies, and they are all mine.

Okay Joel, you’ve made your point.  But have I?

We live in a society today that doesn’t seem to understand this basic principle, because there’s a group of highly armed and dangerous people that take my money by force every time I get paid.  And that group of people takes my money and divides it up among themselves and gives some of it to their friends. 

It’s sad but true – there are people that think they have an absolute right to my money.

But the fact is, my money is mine.  It doesn’t belong to the government.  The government has no rights to it.  It doesn’t belong to the poor.  The poor have no rights to it.  It doesn’t belong to my neighbor.  My neighbor has no rights to it.  It doesn’t belong to anyone but me. 

Government does not produce wealth, but is dependent on it, and takes away from it.  Government is non-productive overhead.  It may be necessary overhead, but the necessary aspect of government is a splinter of its current girth.

Nothing is more basic to certain unalienable rights than the right to what one earns.  This is the core of sound economy.  Unless America can ever get the genie back in the bottle, and repeal the sixteenth amendment, we will never have a sound economy and experience real individual freedom.

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