Wealth and our economy

Reblogger
Real Estate Agent with Heritage Real Estate Group(DFW)

Great commentary Lisa! A lot of things can be defined as having wealth. For examples, having land or having a car or food. It is a little dumb when we dont appreciate what all we do have.

Original content by Lisa Von Domek TX License #0552989

 

What is wealth?

 I thought I would share this quote from Adam Smith on wealth:

 “Whatever a person saves from his revenue he adds to his capital, and either employs it himself in maintaining an additional number of productive hands, or enables some person to do so…for a share of profits.  As the capital of an individual can be increased only by what he saves…so the capital of a society can be increased only in the same manner.”

Adam Smith       

 

Adam Smith (baptised 16 June 1723 – died 17 July 1790 [OS: 5 June 1723 – 17 July 1790]) was a Scottish social philosopher and a pioneer of political economy.

 

 

A great commentary on our current economy and what (I believe) is needed to turn America back on the right track.  Capitalism is what helped make our country the greatest nation in the world.  Self-reliance and pride in one’s own achievements are two of the personality traits that must be rediscovered.

 

 

For information on the Dallas, TX area economy and homes, click here.

 

Lisa Von Domek
BROKER/ASSOCIATE,  
ABR, AHWD, ALHS, ASP, CAPS, CDPE,
CGP, CMS, CRS, CSP, GREEN, GRI, PS, QSC, SFR, SRES, TAHS, TRC
Lisa Von Domek & Associates, LLC / Real Living Real Estate Group 
Phone:      972-572-2882            Fax:     972-572-2882
Email:        Lisa@LisaVon.com      
Website:   www.LisaVon.com


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Comments (3)

Larry Bettag
Cherry Creek Mortgage Illinois Residential Mortgage License LMB #0005759 Cherry Creek Mortgage NMLS #: 3001 - Saint Charles, IL
Vice-President of National Production

Mike I saw this as well and commented on the original post.  Very good and wise words!

Jun 27, 2011 02:51 AM
Faith LaRosse
Springer Realty Group - Limerick, PA
Serving Berks, Chester & Montgomery Counties

Very good choice of words, Larry-- Very wise words. 

Jun 27, 2011 02:54 AM
Liz Murray
Renaissance Home Staging & Redesign - Chandler, AZ
Professional Home Stager

The term wealth seems to mean different things to many people.  In the last decade or so, I have seen an erosion of sorts of our "moral compass", and the politics in our country seem to justify all forms of "greed"  In the movie  Wall Street", the term "greed is good" is never more apparent than what we see today.    The fall out on our economy was a result of it.  A good portion of the real estate debacle can be blamed on it.  

...and as far as our founding fathers,.. remember they used to think that slavery was a good thing.  I have lived in Texas, and have a few friends in Texas.  View points will vary depending on the part of the country you reside in,..but one thing is for sure, our founding fathers never dreamed that an economy can be undermined so badly by governments allowing corporations to behave badly. 

About a year ago, I asked Senators McCain and Kyle at a "town hall meeting" what the were going to do about the corruption on Wall Street and in the Health Care Industry.  Kyle didn't answer, but McCain said he didn't think there was any!   DON'T EXPECT OUR LEADERS TO AGREE WITH YOU ON CREATING WEALTH.   (You could have heard a pin drop in the room after their comments/non comments) 

Jun 27, 2011 03:09 AM

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