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How so? Please tell me how is the rich getting free lunch? Why are majority of lottery winners often go broke within 2 years? Because they don't have the experience in managing money. The "true" rich who can preserve their wealth has the management skill to do so. I interact with the rich social...

Dependancy mentality is what is eroding the strength of Western civilization. Civilization functions today because there are people who builds wealth, filling the needs of demands in society. We would not have electricity today if Thomas Alva Edison was sitting at his couch and eating hamburger...

There is a third option. The government pays for the medical expense, the borrower has to repay within a certain period of time and he can't leave the country. Failing to pay, he becomes a convict laborer for the government. The money spent could be returned in this way. Society does not have...

It is only possible that Planet Earth be able to sustain 7 billion middle-class people with new technologies. At some point in the future, we will see more vertical farming to feed everyone up to middle-class level. I would hope the world will get rid of povery and there would be no poor...

What is the minimum net-worth to be qualified as "Corporate Fatcat"?

Stop using Cold-War mentality for a moment. China is thriving under the current Western-led system. In the past, nations raise army goes to war on purposes of grabbing resources. China does not need to go to war to become rich or get resources. Anyway here is a relevant news, China is...

That is not my point actually. I said that the current global trade system is largely promoted by European powers, first among them Britain. Some argue that nations around the world are already trading before the rise of European powers. It is true except that trade levels are much smaller...

Here is an excerpt from the book of "The Birth of Plenty" Here is 2 graphs Birth of Plenty is one of my most favourite book. I will reply to other points later; Gotta rush out now. This website has the first chapter of the book: http://www.efficientfrontier.com/ef/404/CH1.HTM

Personal attacks.... More on that later.. Not personal attks - they're attks on the points you make. There's a difference. - KD How? He said that I believe technology and economic growth better comes about from invasion when my point is never like that. It will be a waste of time to reply...

Trusting too much on historical literature sometimes makes one irrelevant in applying knowledge to practical needs. Sometimes we need to rely more on data and facts I was arguing that for corporations that outsource its labor to developing countries like China have huge savings in labor cost...

Literal meaning of the word free would betray the meaning of my post. Of course it is not literally free. But still the cost of buying and up-keeping slaves at that time would still be much cheaper than for United States of today to employ Chinese labor. The multinational corporations of today...

Where do I begin? Masada? What is your point? You are just criticizing for the sake of criticizing directed supposedly at the imperfection of my post without a clear purpose. It would be more productive for let say, to suggest some points why the existence of British Empire as a whole bring...

Slavery is an ugly part of history for any nation that takes part in them. I don't want to defend it. As to your question, yes Industrial Revolution probably would not be financed or would be severely postponed without the gains of slavery. But I do know that globalization and Industrial...

If British Empire is bad then there is no empire that is good. Every empire has history of genocide of some sort. It is unscientific to judge thing without assessing how it stands on relative-terms. British Empire certainly has its flaws but its fruits by objective measures certainly...

Political Correctness gone mad. Killing a terrorist mastermind that has openly declared war on the Free-World is illegal!? The United States and multiple countries already have irrefutable proof of OBL's involvement in dozens of terrorist attacks around the world. He also has admitted his and...

Well, South Korea is a signatory member of World Trade Organisation since 1995. WTO agreements have these kind of statements too. But still the results is that imported cars makes a small percentage of Korean auto-market. (that 5% figure might be outdated but in either case, any visitor going to...

Do American diplomats made any research on the South Korean auto market before signing that FTA? What good will eliminating auto-tariffs will do if the the tax collector will purposely pick out households that buy non-Korean cars. The reason why 95% of Korean auto market is made up of Korean...

Monarchy is not meritocratic; Period. You are born in a royal family and that automatically makes you the leader of a country? At least in Democracy people have to work hard to rise to the top. Well actually, to me a Democratic country is 2nd best option. A technocracy that is...

You are taking some points of what I said and missing some out which is not helpful in understanding what I am trying to say. Money is a very essential thing, you have less your material security is less, you have more and you are more comfortable materially. Profitability is the metric for any...

In the real world, if you approach a venture-capitalist to invest in something that is of no market value it would get no where. I concur with Yeekim, you should go out more. When you step into the real world and deal with money and understand how difficult it come by, you would give up this...