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- The Case of Murawiec and Marc Rich -
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{That's the way I forecast}: I concentrate on the physical values, and I concentrate primarily on, growth comes from generation of the discovery and application of universal physical principles. Therefore, the primary function of economy, is to foster {capital growth,} in terms of applications and discovery of universal physical principles, useful for man. What we did is, we went to a consumer society from a producer society; we tore down our infrastructure; we tore down our health-care system, with the HMO legislation of 1973; we tore down all the things that made us productive. We were destroying the {physical} basis, for successfully {maintaining our population}, and that of the world. And, that's where the gray arrow is.
So, this lesson of man, the nature of man: The problem with economists, generally, is the economists keep trying to interpret things in terms of financial systems. They try to think like accountants, rather than physical scientists. And therefore, what their work has been--every forecaster, that I know of, in the past 30-odd, 40 years, has been wrong. Not only are they wrong, but they're viciously wrong: That is, they can not help but be wrong, as long as they believe what they teach, about economics. That's what our problem is.
Therefore, the other question is this: That, if we wish to solve a problem, we must do a number of things--both of which are essentially the same thing: First, our objective must be to increase man's power, per capita and per square kilometer. That means, that we must promote, in our schools for example, the discovery, re-enacting the discovery of universal physical principles. We must not ask children {to learn the formula}! Or learn the procedure. They must go through experience of actually discovering the principle. They must develop their powers, to discover principles, and therefore, know how to apply them. That's our first objective. That's why we do it that way. Because, we must increase man's power, per capita, over the universe. We must educate people longer. We have to educate people to the ages of 20-25, as opposed to 15 or 16, as we used to, in a former time. We sustain them longer. We make a capital investment, in children. Say, today: To produce a university graduate, who's employable, you're talking about 25 years of life; that, largely, is a capital investment by society, in that individual. If you make the capital investment wisely, educate the pupil properly, develop them, provide them the opportunities, {they will increase the wealth of society}.
Therefore, when you cut health care, when you eliminate health care; when you eliminate a youth's education, to make it only learning; when you say there's no truth in education, no truth in ideas, there's only opinion: then, you're destroying the society.
What we've had, as I've indicated already, is the general collapse of infrastructure. People say, we've got to balance the budget, the financial budget, they don't realize the system is already bankrupt, and they're driving it further into bankruptcy. And the point comes, at which you have to stop, and go back, and redo, revisit, or reverse what you did, over the past 35 years.
Now, there are some solutions. As I already indicated, in 1931, a number of German economists--some meeting under the auspices of what was called the Friedrich List Gesellschaft in Berlin, which represented the top banking circles of Germany--said, that austerity was insanity. What is being done in the United States today, by the Federal government and by the state governments, is insanity. This does not work. You're simply causing the society to try to survive, by eating its own legs, and you're not going to continue walking around that way, for much longer.
Therefore, what you have to do is, increase employment. It is the function of the state, {not} to balance the budget, in terms of fiscal austerity, but rather to create large-scale employment of the unemployed or the misemployed, in projects of national interest, especially in basic economic infrastructure, to build the economy up to the level, that the {income} of the population in general, enables you to balance the books. As far as the government is concerned, you bring the income of the population up to the point that your tax-revenue base is adequate to balance the economy.
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