Sab Phictional hain

Notes on

Benjamin Franklin's
'The Way to Wealth'

Part 1:


1--> "Pray, Father Abraham, what think you of the times? Won't these heavy taxes quite ruin the country? How shall we be ever able to pay them? What would you advise us to?"

The idle mans folly. Always concerned about what is happening around in the world, letting temporary fluctuations in the nature of news affect his mental well being.

A capitalist is modest enough to understand that these are effects he has no control of and therefore he must accept them as a given and not speculate on them. That would be not prudent, unless he/she possess some sort of specialized skill that enable him to speculate on such matters. However such abilities are a consequence of years of effort and hard work and are not for the average person.


2--> "..the taxes are indeed very heavy, ........., but we have many others, and much more grievous to some of us..."

As a capitalist, does it not make sense to worry about the difficulties and nuances of the investment world?
Since the document is addressed to average merchants it is prudent to not worry about details that are beyond ones control.
Another instance of Intellectual honesty that an acute man must exhibit.

3--> " We are taxed .....................................

*** twice as much by our idleness,
*** three times as much by our pride,
*** and four times as much by our folly,

and from these taxes the commissioners cannot ease or deliver us by allowing an abatement... "

Modesty, intellectual honesty and hard work are the essence of Capitalism.



4--> " God helps them that help themselves, as Poor Richard says, in his almanac of 1733. "

Religion and Capitalism go together, at least in the American version of it.
What are the consequences of being a capitalistic country minus the religion?
Capitalism is easy in the presence of a religious population for it reduces
the transaction costs involved in dealings.