by James A. Bacon
It’s a lazy, rainy day, and for amusement, I’ve been reading Nassim Nicholas Taleb’s online work, “Principia Politica,” in which he applies his insights into risk, probability, and the non-linearity of complex systems to the realm of governance and politics. The graphic displayed above appears about halfway through the presentation without any elaboration but it beautifully summarizes how I view the world.
The left-hand image summarizes the thinking of the political left in the United States today, which defines “the rich” — the millionaires and billionaires, in Bernie Sanders parlance — as the enemy. The underlying assumption is that all wealth is, to one degree or another, illegitimately gained and that concentrations of wealth are harmful to society. This is the default mode of thinking of much of academia, the journalism “profession, think tank pundits and the nation’s intelligentsia.
The right-hand image summarizes the thinking of those, like me, of a conservative-libertarian bent. I have no problem with the existence of rich people in our society. I am far more interested in how people acquired their wealth. To me, predators, cronies and rent seekers are the bad guys. (more…)


















