Solving large complex problems is actually much easier than people make it out to be. When it comes down to it, all it involves is breaking up the entire problem into fragments and streams and then tracing the streams back to their earliest premise. This is actually a great deal of work, but it is not hard work. It takes dividing up the labor to make it easy on everyone. In dividing labor we immediately face a new problem, how do we get everyone to work together?
Easy too, we clearly defined the mission. If we can be certain everyone knows that we each share the same goal, then we can work both independently and interdependently to reach that goal. The economy is one of these easily solved problems if we divide the work properly.
An economy is its most basic form is the management of one’s own household. This comes from the Greek term oikonomia; oiko (house) and nomos (rule). If you think about it for a moment this makes great sense, it’s managing your own resources; it’s your time, labor, and property. Economies come in scale and if no one else is there to do it for you, then you must manage your own life or household.
Today ‘the economy’ is never used in its ‘management of one’s own household’ origin, instead it is most often tied to the mismanagement of all resources no matter who owns them. Very few people hold the reigns to that economy, and that is why it is in deep trouble. When the very few manage/control the resources of the very many, then they have a monopoly and that always leads to mismanagement. Our National Economy is nothing more than the sum of all our household economies. This is very telling given that many of us manage our households effectively and we’re TRILLIONS of dollars in the hole.
‘The end is Far’ has found a solution. Much of the solution I arrived at on my own, however after reading several authors over the last few years I found that these solutions had already been arrived at by others over and over again. Adam Smith, Fredrick von Hayek, Thomas Jefferson, and the others all wrote on this subject extensively. It all boils down to managing one’s own life and being able to do it without mismanaging someone else’s.
So we have this highly complex economy problem. By breaking it down to a commonly understood premise, we can now begin to start breaking up and find out where the bottlenecks exist. By applying what works and does not work in our households, we will soon find out that these same actions have similar results in our communities, States, and our Nation. Our National Economy is the sum of all of our households. It all starts at home and once we start paying attention to what it takes to manage our own households, we’ll find that we’ll have to limit what the Government does for us in order to do so effectively.
The end is Far,
Steve A Morris