Subjective Choice Is How The Human Reality Becomes Manifest.

Divine economy theory is based on the acknowledgment that human comprehension is finite, and in that sense, what is beyond human comprehension is ‘divine.’ In other words to intervene, to act despite being in relative ignorance, is the cause of injustices. But as individuals, each one being unique and of magnificent potential, the subjective choice is not only true to human nature but it is how the human reality becomes manifest in all of its magnificence.
 

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Commercial Aspect to Virtues – Mercy.

The world is a testing ground for our souls. Tests and difficulties exist and have to be dealt with.

How can we truly show that we care without a capacity for mercy? Those who feel blessed in plenteousness often show their feelings of mercy by contributing to or participating in some kind of charity. Charities channel peoples’ mercy to those who need it.

Mercy is one of the keys to prosperity. It is through the act of being merciful that one begins and continues to recognize the reasons to be thankful, and the act of being merciful also makes one feel prosperous. It is through mercy that those who are suffering are given their much needed sustenance which, too, is a prosperous feeling indeed.

Here we have the feeling of prosperity as an example of the ‘tangible goods and services’ emerging from mercy. By acquiring and practicing mercy the extremes of wealth and poverty will lessen and a greater sense of prosperity will be felt by all. Those who show mercy will be recognized for this noble and valuable trait. A price, a ‘premium’ in some form, can be ascribed to the practice ‘mercy.’ In other words, there is a commercial aspect to the virtue. It is a traceable market phenomenon.

New Technology In Economic Science.

Those familiar with Austrian economics know that Austrian economics is part of the tradition of classical liberalism. One of the most distinguishing features of Austrian economics is the use of the methodology of subjectivism.

In Man, Economy, and State Murray Rothbard pioneered the use of diagrams built upon subjectivism, done in contrast to the empirical diagrams that were and are used in economics by the empirically-minded. There were other attempts within the Austrian economics tradition to convey economic concepts using diagrams as a supplement, for example the Hayekian triangle. The detailed exploration of the use of diagrams to build a bridge between the Austrian business cycle theory and the empirically-oriented alternative (yet mainstream) theories that was done by Roger Garrison, is another example of pioneering work in this regard.

These and all of the too-many-to-mention other examples were and are great pedagogical steps offering alternative ways to understand the commonly recognized economic concepts and laws. But these disconnected diagrammatical examples of the power and use of the methodology of subjectiveness that supplemented and supported the causal-realistic logic did not coagulate into a technology.

Between 2005 and 2012 a new economic model – built using the methodology of subjectivism – provided a broad platform that included macroeconomics, microeconomics, ethical economics and economic justice. It is because it is so broad yet wholly integrated and deductively sound that it can be regarded as a new technology.

The series of models built using the methodology of subjectivism that constitute this new technology include:

  • Divine Economy Model
  • Divine Microeconomy Model
  • Model of the Ethics of the Divine Economy
  • Model of the Justice of the Divine Economy

This new technology is comparable to the technological advance made when the lens was first introduced. Things are clearer, and it amplifies the ability to focus, and new things not seen before are noticed. No one would deny that the lens was a welcome and useful technology. As an Austrian economist myself, I can testify that this new technology is timely and important.

 

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When Minimum Wage Destroys Legitimate Jobs . . .

One of the many bizarre consequences of minimum wage and the minimum wage increases is an increase in the negative types of the underground economy. The next time you hear of identity theft blame the economic numbskulls who destroy legitimate jobs.

 

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Why The Free Market?

The free market is the unhampered grace of the economic equilibrium forces. The alternative is the hampering (because of human incomprehension of its infinite nature) of the grace, and all of the consequent injustices and corruption that you see all around you.

Therefore, unequivocally, all economic intervention is immoral.

 

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A Non-Propagandized Working Definition Of Capitalism.

The ‘mixed’ economy is not a variety of capitalism; it is a variety of statism. The ‘capital’ that exists in the ‘mixed’ economy is held captive by the State in a ‘mixed’ economy that leans towards socialism, and the ‘capital’ that exists in the more fascist version of the ‘mixed’ economy is undermined by counterfeiting and is made into a means and method of political bribery. To be able to critically evaluate capitalism, then, it is essential to examine its true nature, in a non-propagandized mode of operation.

First of all, if the true nature of capitalism was made known then everyone would reject statism for a whole host of reasons, economic and ethical. In other words the State has to propagandize, with falsity, capitalism or else statism would be cast into the dustbin of failed man-made systems. The self-preservation and lust for power of the State drives its proponents and agents to use propaganda tools to misinform everyone about free market capitalism.

 

Capital is what makes available goods and services in the future and it is what makes possible any and all improvements of the goods and services available. At the same time it is what pays the income of those who are a part of the production process, whether that production is for goods and services available right now in the market (unless revenues exceed costs), or whether that production is for goods and services that will come into the market in the future. There is no person in the world who is not a beneficiary of capital. It is simply and naturally a part of the economy.

 
Capitalism (a non-propagandized definition) is a synonym for an unhampered free market economy, a contractual society built upon the foundation of property rights. If you ponder the meaning of these words you will recognize that capitalism has not yet existed at any time on the Earth as of yet. What this means is that all of the negative attributes assigned to capitalism are really just the bad fruits of ‘mixed’ economies.

Theoretically, in both economics and in ethics, the unhampered free market economy is the optimal and the best means for peace and prosperity. There is empirical evidence from various historical examples of when relatively free markets existed for periods of time in various places around the world. None of these were unhampered free market economies or fully contractual societies built upon the foundation of property rights. There has always been some interventionism.

 
The critics of ‘capitalism’ are perceptive. They see the obvious flaws of the ‘mixed’ economy but because of the propagandized definition of capitalism they foolishly clamor for more statism! Such is the plight of humanity in these, the Dark Ages of economics. There is a technological breakthough in economic science that will help to dispel this blight of economic ignorance. That breakthrough is the divine economy theory.

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