Economics articles

The Forgotten First Tool for Creating Wealth

The Forgotten First Tool for Creating Wealth

Before we can ever properly evaluate Ohio’s–or any government’s–economic policy, we must first understand the various factors at work in a division of labor economy and their necessary roles [read on OCR: “Let’s Divide the Work”].  In such an economy, each person focuses on producing one thing or a few things while relying on others

Let’s Divide The Work

With a proper understanding that we need actual wealth to satisfy our needs and wants [read “Our Need for Wealth” on OCR], an obvious question arises that must be thoroughly answered before we can even discuss proper government policy–including Ohio’s economic policies.   How do we create wealth?  We know that planet Earth has provided us