Send a Tweet
Most Popular Choices
Share on Facebook 1 Share on Twitter Share on LinkedIn Share on Reddit Tell A Friend Printer Friendly Page Save As Favorite View Favorites
OpEdNews Op Eds

Nuggets of Knowledge to Pearls of Wisdom

By       Message Tim Duff       (Page 1 of 1 pages)     Permalink    (# of views)   1 comment

Related Topic(s): ; , Add Tags
Add to My Group(s)

Valuable 2   Must Read 1   Well Said 1  
View Ratings | Rate It

opednews.com Headlined to H4 9/20/16

Author 504902
- Advertisement -

Aristotle, the Greek philosopher, was a Macedonian, and the Greeks despised him because of it. He was the first economist to write about the oil industry. He had a head start because he was the first economist. He invented the word economics--Oikovoquika. The Father of Economics tells the story of the invention of commodities-futures contracts, and the first time the oil market was cornered.

The philosopher Thales, getting a tip from an insider, knew that an oil shortage was shortly in the offing, so he bought all the future output of the olive oil trees in the city of Miles. When the season turned and the shortage of oil began, he cranked the price of olives through the roof. The public however, wasn't at all angry that Thales was skinning them for the oil they desperately needed to eat and keep their lamplights on. Instead the people lauded him for his genius in making such a pile of money.

So Thales scolded them. You despised me when I was a poor philosopher trying to give you invaluable wisdom for nothing and now you're praising me for destroying the economy. You think that a good economy is one in which smart people with inside information make money off of money and get richer beyond their ability to even spend it. But making money from money is against nature, he pleaded. A successful economy is one in which money and the exchange of production results in a Good Life for all.

- Advertisement -

There is none so blind as he who will not see.

 

- Advertisement -

Valuable 2   Must Read 1   Well Said 1  
View Ratings | Rate It

opednews.com

I am a progressive writer. I have recently written my debut novel titled THE FIND. It is due to be published this spring.

Tim Duff Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines
Related Topic(s): ; , Add Tags
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEdNews Newsletter
Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Machiavellian realism

Republicans act without any semblance of democratic ideals

The Birth Of The Monster MIC

The Denial of Trespasses

The arrogant self righteousness of republicans

Death, blood and mass killings on the hands of the republicans