*Curing corruption is not the be all and end all of things. As a matter of fact, economic prosperity does not hinge on the relative absence of corruption. Economic prosperity happens because of production and a free-market system.
*Private armies are not inherently evil. I personally believe that the "private armies" of the Ampatuans shouldn't be designated as such; better call them quasi-state armies.
*If a candidate claims that he or she can cure the ills of society simply because he is honest or competent, he is lying or sincerely wrong. This is what Hayek calls "The Pretense of Knowledge."
*A highly "educated" man with a high IQ does not preclude a man from being a fool. Case in point: Ben Bernanke, Summa cum Laude from Harvard University. I am no longer impressed with Latin Honors, and it may not be worth the hassle of obtaining them. Having one may be one of the measures a person may choose to mark what he deems to be achievement. Yet another may choose to be street-smart or money-smart. However, each of them cannot impose and coerce his values on another.
*Education is not a right. Trying to follow the logic of deluded socialists that the state should allocate equal education for all would entail violation of property rights, via more taxation.
*Entrepreneurship is vital for our nation to grow. Demagogues will always demand the government to create jobs; but they cannot fully grasp that governments are the antithesis of entrepreneurship and capitalism which do generate jobs.
*Savings and production are keys to prosperity. It's not consumption as John Maynard Keynes claims.
*The contributions of Ludwig von Mises are outstanding. They have helped in my intellectual advancement. I now understand society better.
*There are three problems of Socialism (and Interventionism): 1) Incentive Problem; 2) Knowledge Problem; 3) Economic Calculation Problem.
*Money is not demanded for its own sake, i.e. it's worthless in and of itself. People want to have more money because of what it can buy. Hence, more money does not mean that a person is better off. The monetary unit must be able to preserve its purchasing power. This cannot happen under a fiat monetary system.
*Understanding economics has enabled me to appreciate personal finance. Viewed from the lens of economics, personal finance is no longer a litany of condescension by self-appointed financial gurus and advisors, wanting you to buy their financial instruments.
*Mises started his economics from the self-evident fact [AXIOM] that 'Man Acts.' This insight has also enabled me to define love in economic terms. Love has ceased to be a mystery. It's part of human nature. It's a conscious and rational act. Every other seemingly random and weird acts associated with being human is also no longer a mystery.
*Economics is not just about goods. It's about human beings.
*It's ridiculous to think of either scarcity or abundance. Scarcity is real, so is abundance.
*Robert Kiyosaki offers useful information. But if you remain dependent on his stuff, you remain a child that cannot digest STRONG MEAT. Also, his books can be greatly appreciated if technical works are perused thereafter, most notably books on political economy and economic history.
*Opportunities abound. Men just have to open their eyes and seize them instead of whining how crappy our government is.
These are my learnings this year. I am praying for more life and even deeper learnings this coming year.
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