Wealth is held by individuals, but prosperity is a high level of wealth across society at large.
Prosperity is not, and cannot, be equal or utopian. It need not be in the other direction, but absolute equality in wealth isn’t likely to work out.
Identifying prosperity as a strategic goal leads to several corollaries:
- Freedom allows the enjoyment of wealth large and small.
- So far as possible, freedom should be maximized.
- So far as possible, the creation of wealth should be encouraged.
- Redistribution of wealth is not a priority.
- Equalization of society is not a priority.
- Every effort should be made to encourage bottom-up prosperity.
Now, about that last point.
Simply put, people should be able to make a profit with the least means possible. Barriers to entry into small business should be low. Government regulation should be the minimum possible. Taxation should be limited as far as possible.
It’s not a matter of handouts or redistribution. It’s a matter of empowering people to make money themselves.
This leads to:
- Pride in one’s work
- Higher quality of effort
- Greater creativity
These are the things that add value, not only to products, but to society itself.
Personal wealth is obviously a goal for people in business, but insofar as the broader world can be influenced by us, it is mutually beneficial for prosperity to be a goal for society.
Prosperity is something that should be beyond reproach, but sadly, this is not so. It is something that should recognize that both supply and demand, both labor and capital, play crucial roles in creating prosperity, and both must exist for prosperity to exist, but sadly, this is discarded in favor of political jockeying on a wide scale.
To me, it’s rather simple. It got simple when I studied the issue and discovered it to be so.
Prosperity: The Most Benefit For Most People
Making prosperity a goal is to hold the general interest, the societal interest, above any particular section thereof for the purposes of creating big-picture, wide-ranging policy.
Being simple does not make it easy. In fact, I find it hard to believe much of anyone will agree with what I have written. It is a hard lesson for some. But, I see no point in not writing what I have come to believe over years of studying these issues.