Saturday, February 14, 2009

Walk On By Those Offfering to Make You Rich

Ron Ferguson, 'an entrepreneur who has many years of experience online', writes in the Money, Finance and Free Stuff Search Blog, HERE:

Online business Makes You Wealthy And Prosperous”

“Wealth is the most common a very familiar word throughout the world. Initially the phrase was derived from the old English word weal. Wealth carries many definitions and few of them are given by some distinguished people in the society, Adam Smith refers wealth as “the annual produce of the land and labor of the society” ‘Wealth’ refers to some accumulation of income, whether abundant or not. ‘Richness’ refers to an abundance of such income. A wealthy individual, community, or nation thus has more resources than a poor one. The opposite of wealth is destitution. The opposite of richness is poverty. Wealth can be categorized in a minor and major ways wherein wealth of a person or nation is the value of assets owned net of liabilities owed (to foreigners in the case of a nation) at a point in time

If an expert offers to show you how to make as much as he has made in business, common sense suggests you ask: ‘Why?’

One obvious answer is that the ‘expert’ intends to make money from showing those gullible enough to send him money for his alleged ‘know how’. But why is this more profitable for him than, presumably, continuing to make money on his own account from his online business?

In short, in the words of the song, when hearing ‘experts’ of this nature: “Walk on By”.

There’s a hint in Ron’s advertisement that almost gives the game away:

Ron Ferguson, an entrepreneur who has many years of experience online

But he does not say the nature of his experience – he may have had ‘many years of experience’ that showed him that it was too difficult to make money on-line - except by selling dreams to those who do not have his experience (yet) and are willing to part with money to continue dreaming.

Apart from all this, Ron slips in reference to Adam Smith defining wealth as: “the annual produce of the land and labor of the society”. Partly true, but as regular readers will know Adam Smith considered wealth as the annual produce or output 'of the necessaries, conveniences, and amusements of society’, and he did not confine wealth to the inputs of land and labour.

In short, output, not money, which in itself is a means to obtaining wealth, is not wealth.

The belief that gold and silver bullion were wealth was the major error of mercantile political economy from the 16th century onwards, which led to the non-creation of the real wealth that a county could produce by provoking wars and causing an absence of wealth for the very poor.

Finally, the above quotation from Ron is reproduced verbatim. But readers inspired to contact Ron may not notice the missing full stops, commas, and semi-colons, contained in the punctuation errors in its third 'sentence', suggesting it was written by a semi-illiterate author or an illiterate sub-editor (or both).



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