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Pictures courtesy of the authors. All opinions expressed on EconLog reflect those of the author or individual commenters, and do not necessarily represent the views or positions of the Library of Economics and Liberty (Econlib) website or its owner, Liberty Fund, Inc.
The cuneiform inscription in the Liberty Fund logo is the
earliest-known written appearance of the word
"freedom" (amagi), or "liberty." It
is taken from a clay document written about 2300 B.C. in the Sumerian city-state of Lagash.
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...becoming a better writing...
Looks like you could learn something. Ha!
Hmmm - not sure about these points.
The crux is that people are paid, mostly, to do difficult and unpleasant things which they wouldn't otherwise do. And people work for half their waking lives for half their lives. Which (added to the constrictions of fomal education, and the problem of illness and injury) makes up a lot of intractable unpleasantness to be endured.
Thanks Bryan for offering your thoughts!
"2. Cope with unpleasant people. Avoid contact and especially conversation."
This has two costs. First, you lose the opportunity to find out what is valuable / unique / interesting about them. Second, you lose the opportunity to discover what it is about yourself that leads you to experience them as unpleasant.
Bruce: if we really can be just as happy on a far lower standard of living than people in the US are accustomed to, then the problem is not nearly as intractable as it seems at first glance.
If one makes a good middle class income of 60k and saves half of it for 10 years earning a fairly conservative 4% real return, one could then retire at 14.5k per year by using 4% of capital each year (which should be extendable indefinitely).
So basically, anyone willing to live on the proposed new minimum wage for the rest of their life, but capable of earning in the second quintile of US workers, can provide for themselves by working for 10 years. A lot of people who don't think of themselves as particularly wealthy could cash out today and never work again -- if they were willing to live on 15-20k per year, which still would put them among the richest 20% of people in the world.
That's pretty astounding to me, and it means, at least for those of us in the rich world, the problem is not as intractable as it looks at first glance. It appears that we are making choices --working more hours more years, plus lots of consumption, vs. working only a little bit and having very few luxuries. I suspect that a lot of us are making poor choices. Anybody who makes good money but doesn't really enjoy their job would probably be happier overall if they saved most of their money and retired very early on a small income, or found a way to work very few hours.
#1 makes it so easy that it feels wrong... some profs are really lazy.
At age 18 things look so simple... Like eating less and exercising. I am willing to declare him a wunderkind when he loses weight.