Rick Kelo on the Collapse of Venezuela's Co-Op Socialism

American Socialists like Bernie Sanders often claim they merely want workers to own part of the business.  Profit sharing, etc.  For that reason they often state publicly that they merely want a society made up of co-ops.  Of course these statements should be obvious lies since workers are free to buy stock in most of the large companies in this country already as they are publicly traded.

Rick Kelo

Still, we should examine co-op Socialism says Rick Kelo.  Kelo is a Classic Liberal thinker, and like most Classic Liberals, a Pacifist.  "Americans are already able to voluntarily and peacefully choose to go work at a co-op, found a co-op of their own, or buy stock in most large companies," says Richard Kelo.  "The fact many workers don't do those things is discounted by Socialists, but to the economist those are rational human actions.  People are very good at finding ways to buy things that are important to them.  If they don't prefer to own parts of the various major employers then they should be free to make that choice."

American Socialists had long championed Venezuela because the Venezuelan Constitution mandates worker co-operatives.  To Rick Kelo though these are nothing more than the proverbial Animal Farm, "Buying into a worker co-op in America is completely voluntary and peaceful.  A co-op in a Socialist economy isn't the same thing.  Workers are mandated to work at the co-op and have a portion of their pay seized to fund its ownership," Kelo points out.  "You can't really compare voluntary co-ops in capitalist economies with the forced co-ops in Socialist ones," he concludes.

Turns out Kelo is right.  In the summer of 2016 Venezuela began forcing the "worker-owners" in the nation's co-ops to work... at the barrel of a gun:

A new decree by Venezuela's government could make its citizens work on farms to tackle the country's severe food shortages.  That "effectively amounts to forced labor," according to Amnesty International, which derided the decree as "unlawful."  In a vaguely-worded decree, Venezuelan officials indicated that public and private sector employees could be forced to work in the country's fields for at least 60-day periods, which may be extended "if circumstances merit."
Source: CNN

Rick Kelo Discusses Religious Freedom

Every individual person makes their own moral decisions.  However, says Rick Kelo -  a West Point graduate, tax recruiter and social thinker - there are really two types of morality.

"There's the morality people use to govern their own individual choices as they go through life," says Richard Kelo.  "Then separately there's the morality that pertains to our interactions with other people.   The problem is when people try to take things they've settled on as personally moral and force other people to adopt their choices as the way we all interact with one another in society," he continues.

The Wedding Cake
Consider the now-famous example of the prejudice wedding cake baker who refuses to make cakes for same sex weddings.  What is the proper way to view this?

According to Kelo if we use force to compel the cake baker to make a cake, then we are imposing our own personal morality on him.  Instead, says Rick Kelo, "In the relations between people we have to remember to view our fellow man as someone to be persuaded.  To be reasoned with and convinced, but not to be coerced and forced to live his life by our personal code of morality."

In interactions between people we must remember not to steam-roll people who don't think like us.  The world is big enough for more than one wedding cake baker.

Rick Kelo

Rick Kelo on the 2 Ways to Organize Society

None of us is an island.  We all spend every waking moment of our lives as an individual, but also living in a society of individuals.  This is an unavoidable aspect of human existence.  So how should we best organize our interactions with one another?

Rick Kelo, a West Point graduate and outspoken liberal philosopher notes that there are ultimately only 2 ways to organize the economic activity of huge groups of people.  They're either:

1. The voluntary way, named Capitalism
2. The coercive way, named Socialism.

In the voluntary way, says Rick Kelo, consumers voluntarily choosing which entrepreneur most meets their needs.  The consumer decides which business owner will become rich and successful and which will fail. 

The only other way to organize society is by violence, coercion & force as the substitute of peaceful, voluntary cooperation.  For a government to seize private property and declare it their own as Venezuela did to their nation's oil or the USSR did to Russia's farms.

Rick Kelo

Rick Kelo - Market Socialism

Ever heard the term "Market Socialism"?  It is a method Socialists invented to try and show their system could work.  Under "market socialism" citizens are given rationing tickets to redeem for extra goods whenever an excess develops.  Socialists believe this will allow shop managers to adjust the number of rationing tickets needed to buy a certain good.  The premise behind this argument was that it would establish a functioning market where the availability of goods was governed by a market with supply & demand.'

Market Socialism in action in Venezuela

Socialist Venezuela is using this method right now.  In 2014 they began issuing food cards to be used for all grocery purchases.  Rick Kelo, an outspoken advocate of human freedom, has examined Socialist's claims that this system can actually implement a market economy inside a Socialist system.

He responds that rationing tickets don't replace money because in a free market economy money is earned by satisfying the needs of others.  Also prices are not set by trial and error, as in Market Socialism, but rather by entrepreneurs who own businesses anticipating the price.  The way entrepreneurs anticipate prices is by already knowing the cost of all of their inputs.  In a Socialist economy where the State owns all the means of production there is no market for raw materials and factories and all the things that go into making a finished good.  So the grocery store operator in Market Socialist Venezuela has no way to approximate his cost of goods sold to decide what price to set for the things on the shelf.

Rick Kelo - A Thought on Monopolies

Rick Kelo

What most people picture when thinking of a monopoly is a big company.  But sheer bigness alone isn't enough for a company to be a monopoly.  In order to function as a monopoly a company has to be able to withhold supply from the market in order to drive the price up.  When they can accrue a higher profit than the firm would be able to earn in the market that extra is what's known as a "monopoly profit."

In studying the history of anti-trusts Rick Kelo noticed that the majority of the monopolies in the 20th century existed in socialist countries.  Every case of actual monopoly only existed when the government granted either:

1. Special protection from domestic competition.  For example PDSVA in Venezuela has no domestic competition because the State seizes any domestic oil and gifts it to PDSVA.
2. Tariffs or import restrictions that grant protection from being under-cut by foreign competition.  Standard Oil, in America, was able to grow large because a very high tariff on kerosene protected them from foreign competition.

When we research monopolies, as Rick Kelo did, an odd pattern emerges.  We discover that very few so-called monopolies in America in the 20th century were actually monopolies.  They were accused of being monopoly based on sheer bigness alone, but even Standard Oil never withheld supply in order to raise prices.  Kerosene prices went from over 30 cents a gallon in 1869 (when Standard Oil began to grow) to a mere 8 cents a gallon by the 1880s.

Rick Kelo - A Thought on Starvation

The state of nature is scarcity.  If any of us wandered off into the woods it would only take a few hours until our stomachs started complaining about the absence of our fellow man.  That's because we rely on doing the work we're the most productive at for a wage, then trading for things we produce less efficiently than specialists in other areas.  For most of us that includes buying food from experts at food production.

In the 20th century we saw numerous mass starvations that killed well into the tens of millions.  Many people haven't stopped to consider though that they all occurred in socialist countries.  The two most notable were in China & the USSR.  However, India also suffered chronic famines through much of the last century while it was socialist.  Somalia the same.


Where did starvation go extinct?  In the freest market, most capitalistic countries first.  The US and the other liberal western countries with relatively free markets & relatively free trade.

Capitalism has lifted more people out of poverty than any force in all of human history.

Rick Kelo, a father, a pacifist and an entrepeneur

Rick Kelo, an advocate of peaceful cooperation, has noticed this trend.  In countries where force is the central value in organizing society, like in all Socialist countries, the forces of supply and demand stop signaling how much food should be produced. But, as Rick Kelo also points out, in countries where the State doesn't obstruct people trading peacefully & voluntarily with one another society is able to pool the total knowledge of every single consumer, through prices, to signal how much of each thing should be produced.

Richard Arthur Kelo - Using Education for the Greater Good

One of the most cliched proverbs we hear in our time is that knowledge is power. There is a lot of legitimacy in this idea,  however there are two angles from which it can be approached. As we see in the world of Machiavellian politics, many abuse this notion. Collecting 'dirty' information on one's political opponents is a sure fire way to bury their reputation whilst advancing their own. Abuses of power based on the knowledge they retain is nothing new in modern society and indeed government and institutional organizations. However, there is a more positive aspect of this once great proverb. The internet has provided the perfect economy in which educated people, academics and thinkers can thrive, and use the knowledge they have to help inform and educate people  who operate in their communities.

Rick Kelo is one such man who sees this idea as fundamental to harnessing the power of the internet and using it for the greater good. Rick Kelo was educated at the prestigious military academy of WestPoint. Following this, he went on to graduate with an MBA from Chicago University in economics and finance. He has built a reputation as being one of the most skilled and experienced executive recruiters in the industry today, and currently plies his trade in tax advisory services. Outside of his work here, Rick Kelo has maintained his interest in the more theoretical side of global economics and politics. He has a growing online presence as a gifted rhetorician, and runs an insightful blog with compelling articles about modern politics and economics.

For Richard Arthur Kelo, people lucky enough to have received a good education like him are bound by duty to help serve the community in the best way they can. Using his education, Rick Kelo sees the internet as the perfect place to help disseminate ideas of some of the greatest minds in the history of mankind, and how they are relevant in the modern world. Rick Kelo has a gift for being able to make complicated subjects digestible and readable to those who maybe don;t have a background in the subjects. His contributions to the academic search engine Quora.com are a good example of this. The academic question and answers forum relies on educated individuals like Rick Kelo to provide concise and understandable answers to the community in the areas of their specializations. It is the perfect example of people using education fro the greater good, rather than the bad. Find out more about the man here at Rick Kelo Official Account on LinkedIn.

Rick Kelo - Putting Historical Ideas into Modern Contexts

 It is the duty of educated individuals such as Rick Kelo to use their learned knowledge to help proliferate important ideas to the wider community. The internet has provided the perfect platform from which people can do so, and has opened the great economic, political and social debates of our time up to the public sphere. However, being able to articulate and make digestible complex and important philosophical and social theories is no easy task. To do so requires a real skill in comprehension, empathy and language use. This is especially true when it comes to discussing economics. An infinitely complex field of thought, that is for many incomprehensible and therefore uninteresting. However, economics is far to important to simply be dismissed by those who don;t understand it, and therefore it is hugely important that people with a natural talent for explanation such as Rick Kelo use their skills effectively in disseminating important knowledge.

Richard arthur Kelo has been running and maintaining a hugely popular blog throughout his career as a reputable executive recruiter. Through his articles, Rick Kelo has demonstrated his ability to put important historical ideas of the classical liberal traditions into contemporary contexts. He belongs to the school of thought of the Austrian and Monetarist traditions, with his personal intellectual heroes being Ludwig von Mises and Benjamin Franklin. For Rick Kelo, it is vital that the ideas formulated by such men are developed and disseminated to a wider audience to show how they formed the backbone of what made America such a great country throughout history. Thinkers such as Rick Kelo following in this tradition, are increasingly cautious today of the socialist tendencies of modern governmental policies which are creeping into the system. In doing so, Rick Kelo believes that it is having a stifling effect on commerce and the economy, whilst also infringing on our civil liberties as constitutionally protected citizens. Policies such as high taxation, and a failed social security system are good examples of this, which Rick Kelo discusses with compelling insight. Rick Kelo's blog is highly accessible, and understandable to even the most laymen economists. He has a skill of putting complex historical ideas into contemporary contexts, and placing a critical eye on bad governmental practices. To find out more about him and his ideas visitRick Kelo - Chicago, IL, Houston, Atlanta, Tax Recruiter.

Rick Kelo - A Scholar of Taxation theory and Classical Liberal Thinker

 The internet has become one of the most important mouthpieces in our history that has given the public the opportunity to express their thoughts. It is often suggested that the internet is the most democratizing force of our lifetimes, if not ever, and has done more than the creation of of liberal political systems for opening up the world to wider debate. Millions of people everyday contribute content to the online world, allowing them to express their ideas to a wide range of people and try and make a difference in the world. Rick Kelo is one such man who has build a sterling reputation as being an important voice in criticizing and analyzing governmental economic policy. He takes time after his daily work as the head of tax recruitment for a reputable tax advisory service to engage with public debate on governmental issues online.
 

Based on his day to day work it is no surprise to hear that Rick Kelo is most interested in better understanding financial and economical theory. With ideas stemming from Ceteris Paribus- Economics from the Austrian and Monetarist movements, Rick Kelo's blogs and articles help articulate complicated yet fascinating economic theories of the past and and better understand them in a modern light. Rick Kelo follows in the footsteps of classical liberal thinkers who have inspired him such as Benjamin Franklin or Ludwig von Mises, and uses their ideas to critique modern government practices. Tax is an area of particular interest to Rick Kelo, and like his heroes before him is wary of governments who place to high a value on the importance of taxing people.
 

From the lens of a classical liberal thinker, taking high income and national tax from citizens takes money from the hands of those who worked hard to earn it, and puts it in danger of reckless government spending, which can be hugely damaging for an economy. Policies such as high taxation point dangerously in the direction of socialism and communism for Rick Kelo, which he sees as being a destructive political system, especially for the infringement of citizens' liberties. To find out more about the ideas of Rick Kelo go to his web page or blog linked here Rick Kelo on Tumblr.

Rick Kelo – Giving the Power Back to the People : The American Tax System

The tax system in the United States is one of the most important, complicated, and controversial topics lawmakers must address. And in the eyes of many, including tax recruiter and head of TaxScout, Inc., Rick Kelo, the system is broken. For years, Mr. Kelo has been expressing his distrust and disappointment with the government’s growing influence and infringement on the rights of its citizens. And in alignment with our nation’s second amendment, he has been utilizing his right to free speech to voice his concerns through various online platforms, such as his blog. 

According to liberal intellectuals like Mr. Kelo, a larger and more centralized government has had an increasingly negative impact on American economic and social systems, especially the tax system. By taking large amounts of funds from the peoples’ taxes and distributing them however they see fit, Mr. Kelo believes the government has overstepped on the individual liberties of the people. While there are many proposed solutions to reforming America’s tax system, one idea that seems surprisingly intuitive is to give taxpayers the power to decide how the government is allowed to spend their hard earned dollars. 

Though liberals and conservatives are divided on many issues and tax reform solutions, this is one idea that can satisfy both parties. Republicans oppose having their tax funds used for services they reject based on ethical and/or religious beliefs, such as abortion. In fact, defunding Planned Parenthood has been a huge point of contention for Republicans last year during budget negotiations. Democrats also contest having their tax dollars contribute to organizations that do not act in their interest, such as the NSA. Giving the people the power to decide how their money is spent is a fundamental part of the liberty the U.S. proclaims.

Giving taxpayers the power to distribute their own tax dollars could also have a huge impact on foreign policy. Recent polls indicate that most Americans do not have a positive outlook on the war on terrorism, especially since President Obama’s decision to increase U.S. intervention in Iraq and Syria. By requiring taxpayer approval to fund more troops on the ground, the people would be given a much greater say when it comes to presidential military decisions.

While the details concerning this potential solution would require a lot of time and attention, Mr. Kelo believes it could be part of the answer to our broken tax system; or at least be a way to quell the ongoing government shutdown threats that have become commonplace during budget negotiations.

Rick Kelo - The many Strings to Rick Kelo's bow

It is a well-worn adage to describe multi-faceted and intelligent people as having 'many strings to their bow'. For some, gaining a good knowledge of a variety of industries and areas comes fairly naturally, and they will tell anyone who asks that all is required is self-motivation, aspiration and hard work. One such man who has excelled in all the fields he has been involved in is Rick Kelo- a man who has built quite a name for himself in the world of tax recruitment. However, it is not only in his current career that Mr. Kelo has been a leading light.  

Rick Kelo attended the prestigious West Point Academy and graduated with a degree in engineering. Following this he completed his MBA in finance at the illustrious University of Chicago. His academic interest in politics, economics and society never really left him after that, as his current Internet based pursuits reflect. Mr. Kelo runs and maintains a series of insightful blogs and websites, used as a platform to express his developed thoughts and political and economic commentary. He has gained a wide readership due to his ability to communicate complex historical subject matter and translate it to the modern world. From his writing it is clear he belongs to the schools of thought proliferated by great thinkers such as John Locke, Benjamin Franklin and Ludwig von Mises. In a classic liberal tradition, Rick Kelo warns of the dangers of over-stretched governmental powers, and the stifling effect it can have on our communities.
 

Being able to communicate complex ideas is a rare skill and the envy of many. Rick Kelo served an illustrious career in the US military, leading campaigns and missions of large platoons. Being a leader was always in his blood, and he was able to exercise his natural authoritative skills during his time in the military.
 

The leadership he has shown in the area of tax recruitment has also drawn the plaudits. No doubt stemming from his days as a successful military captain, Rick Kelo was able to translate his leadership abilities in developing one of the most innovative and respected tax recruitment services, TaxScout, in the market today. His involvement in the world of taxation and finance nicely echo his classic liberal notions, and the dangers of high taxes on damaging the overall economy. You can find out more about Rick Kelo here.

Rick Kelo - Economics Made Easy

Rick Kelo is a huge believer in the accessibility of information and how this can help us become a fairer country and he is a massive fan of clearing the clouds of obscurity from the economy. Very few people can claim to have a comprehensive understanding of how the economy works and most people are totally lost when it comes to this matter: the arcana of financial law and the impenetrable bureaucracy of the IRS mean that many individual Americans experience panic and fear when it comes to the matter of arranging their finances. Rick Kelo thinks that this is a terrible shame and he does his best to combat this fear and confusion through his comprehensive advice and approachable demeanor.

Most of the advice that Rick Kelo provides can be found on his website, Ceteris Paribus - Economics from the Austrian & Monetarist Traditions, which is extremely easy to navigate and lays out common areas of economic confusion or misinformation in a clear and simple way that anybody can follow. What Rick Kelo is committed to is a democracy of information and he wants to prevent people from making foolhardy decisions or for falling for the wrong school of thought due to confusion or vagueness. Many people will not have had the same educational background or professional opportunities as others and they need help when it comes to issues like these: Rick Kelo is here to help them navigate their way through these murky waters. Since the origin of social media Rick Kelo has been an advocate of the ways in which this can help people and bring them together, and the growing popularity of this medium as a way to communicate and educate others is proving Rick Kelo right every day. People are using these platforms and the endless possibilities embodied by the worldwide web in order to work through problems together and to help others, demonstrating the potential that the virtual world holds for good old-fashioned humanism. This is one of the main reasons as to why Rick Kelo maintains such a vehement presence online — you can also follow Rick Kelo on Tumblr for more economic opinions and uplifting, educational images. The internet is allowing us to reach out to wider audiences and to help people from the comfort of our own office spaces — Rick Kelo wants to help you understand just how the economy works.

Rick Kelo - New Solutions

For Rick Kelo, many of the problems that afflict America today could be solved very easily by a retreat of state power which, historically, has done nothing to help improve the lives of everyday people. According to Rick Kelo, who writes extensively about his opinions on his website Ceteris Paribus - Economics from the Austrian & Monetarist Traditions the history of global problems is the history of socialism and only commerce and trade have been reliably shown to improve the actual conditions of people’s lives. The less that the government has to do with the matter the better and the issue is keeping competitive: you cannot force the strongest members of society to support the lethargy of the weakest members. People have to be allowed to thrive in their chosen pursuits and areas, and a formal effort to expand their sympathies beyond the immediate circle of the family is automatically condemned to failure. Capitalism is part of human nature.
 

So for Rick Kelo, new solutions to old problems can be found with recourse to these pieces of conventional wisdom. We have to stop being afraid of expansion and competitiveness and we have to deregulate our markets as much as possible is America is to continue to be a global player. The current methods of state organization are stifling expansion in all areas and we are in the grip of an economic crisis for precisely these reasons. This is something that Rick Kelo is committed to educating the public about, and his well-written, insightful posts are the culmination of a lifetime spent pondering these issues.
 

It is with this purpose in mind that Rick Kelo takes care to maintain his presence on a variety of social media, building as many different ways to contact and educate people as he can. Rick Kelo is a firm believer in the power of the internet to connect people and to give them information that they might not otherwise have encountered and he is committed to spreading the messages of classical liberalism. We can see this when we follow Rick Kelo on Tumblr, where he posts many engaging images and quotes that can connect with people on a more immediate level. Rick Kelo is greatly influenced by classical thinkers and is often very inspired by the work of Plato. We commend Rick Kelo for his untiring efforts to teach the population of America and the rest of the world his valuable message.

Rick Kelo - Economics For You

The economy is a mysterious thing to many people. It is fair to say that the average person has only the vaguest idea of how their investments and funds truly work and they rely on the experience of professionals to guide them through these murky waters. Too often these people are exploited by professionals who deliberately employ the mystification of the system as a means by which to financially thrive themselves and this is why Rick Kelo is a breath of fresh air in the world of finance, epitomizing the kind of honest, reputable dealings that people are lucky to find in this day and age. Throughout Rick Kelo’s extensive career in the financial industry he has consistently made it his agenda to demystify the proceedings for the average person, and to show them that big business does not necessitate the alienation of the consumer.

On the Rick Kelo official account on LinkedIn we can learn the finer details concerning the excellent record of Rick Kelo in the world of tax recruitment. He has worked for many notable businesses and has been rewarded for his dedication and commitment to the job by admiration across the field. Rick Kelo has successfully helped major companies find exactly the right person who will fulfill their tax needs in his work with the tax search firm TaxScout, Inc. His large array of connections in the industry bespeak the level of professional respect that he commands, and delighted clients have sung his praises far and wide. TaxScout, Inc. command an enviable view of the industry and are uniquely suited to fulfil the hiring needs of any company: it is this dedication and vision that have allowed them to stand out in the field and Rick Kelo, as their Executive Recruiter, deserves no small portion of the credit for this success.

Tax is an intimidating thing for many people but what Rick Kelo and TaxScout, Inc. aim to do is to make this process as easy as possible for the individuals and companies who contract their services. It is for this reason why they are one of the most premier firms in the nation.

Rick Kelo - Chicago, IL - is uniquely suited for his role as Executive Producer, bringing a level of hard work, dedication, determination and passionate commitment to the board that is rarely seen in the financial world.

Rick Kelo – The Challenge of Finding and Retaining Quality Talent

 

 

Currently, finding, retaining, and developing quality talent is the top struggle for businesses across the globe. This is a major problem, especially given the imperative role a company’s employees play in its success. Some say this issue stems from the retirement of the Baby Boomer generation, and the smaller population of Millennials that have taken their place. Although Millennials are often hard working, technologically adept individuals, the majority of them have not yet developed the maturity or professional depth of their predecessors. This has significantly decreased the pool of capable, marketable young people in need of employment, forcing companies to compete with each other for the talent.

Rick Kelo founded TaxScout, Inc. for this very reason. TaxScout is a specialty recruiting firm that works only in the area of corporate taxation. They are experts in this industry, and they know how to find top quality employees for your business. If you’re tired of wasting time interviewing uninformed candidates for job positions, or if you’re tired of search firms submitting unqualified applicants to your HR department, then you should consider using the services offered at TaxScout. Mr. Kelo and his tax recruiter colleagues know how to connect with a wide range of marketable professionals. As evidenced on Rick Kelo’s YouTube site, they know that an applicant’s profile is not as simple as what’s written on their resume, which is why TaxScout filters candidates depending on their experience, motivations, and capabilities.

A primary reason Rick Kelo is so knowledgeable about what constitutes a capable professional is his own success in the professional world. Mr. Kelo obtained a B.S. in Economics at the United States Military Academy at West Point. He then went on to achieve his MBA at the University of Illinois at Chicago. Before establishing TaxScouts, Mr. Kelo worked as a tax recruiter at Management Recruiters, where he was ranked the #1 accounting recruiter globally in the entire MRI network. Prior to this position, he recruited more broadly in accounting, finance, and auditing.

A brief look at  Mr. Kelo’s Tumblr page reveals his profound reverence for the great minds of history, from Plato and Virgil to George Washington and Frederic Bastiat. His commitment to the ideals of democratic freedom and individualism set him apart from his competitors, and is critical thought and deep questioning of economic ideology drives him to understand and explain this volatile field.

Rick Kelo - The great nation of Africa

In the past Rick Kelo shared how free trading & nearly laissez-faire Botswana has now surpassed Detroit in many measures of standards of living. In this article he wants to provide another perspective and a different comparison. The African continent of Botswana is an exception because most of the continent has been denied access to capitalism. During the Cold War Africa served as a proving ground for Marxism. The Soviets established a university in Moscow called Patrice Lumumba University. The Soviets would bring in African leaders and train them to implement Socialism in their home countries.

Patrice Lumumba was a Congolese visionary who was put to death in the early 1960s. The Soviet Union focused on to his growing popularity and decided to use him as a symbol of their commitment to Africa.  With the Congo’s specific ties to socialism, this story is very compelling. The country never transitioned to socialism although it has remained a very slow command economy even now. Even though the country has one of the most prolific collections of natural resources, it remains very poor. This is a direct result of under-developed social institutions like private property that is necessary conditions for a market economy to function.

Rick Kelo provides an excerpt from an old article in “The Economist.”  Rick found it so memorable that some years later he wanted to look it up again. With the help of the Internet he was able to find it in the annals of history to share with you. What makes one nation richer and another nation poorer Rick asks?  One nation has more accumulated capital per person than the other is the simple answer. This is the case in America because our country has become so wealthy through the capital accumulation process brought about by capitalism that poverty has been eradicated. In this instance he refers to true poverty, or penury, not the relative poverty of “this income quin tile makes XX% less than another income quin tile.”

In the excerpt the chief African correspondent for “The Economist” decided to do an interview with the richest African he could find. He compared their lifestyle against the poorest American he could find. The great continent of Africa has been exploited for many years and for many reasons. The people are tough and hard working that is why they were chosen as slaves. The continent is also full of resources that are needed or wanted around the world. If Africa pulls together as a whole there is no doubt that they can be the greatest nation in the world.