On Principles

Absolutely everyone has opinions on political economic philosophy.Yet, very few have any understanding of the principles behind the policies. It is not a matter of intelligence, but of basic knowledge.

Simply, there are two political economic principles. The first as defined by Locke in 1690 as the right of private property- the right of an individual to dispose of their earnings and property as they choose.

The second as defined by Marx in 1850 denies private property, and declares that all property is to be considered collective property- that an individual's earnings and property (including positions of employment) are to be considered common property to be distributed by the state.

These are the two principles. All economies in the world are arbitrary arrangements of these two principles. It is pointless to discuss economic policies until one has understood the principles behind them.