The vast majority of our national wealth isn’t money or gold or real property or personal property. Our wealth is intellectual, intangible capital. We know how to do stuff, and that’s what makes us richer.
Why is this important? Because it explains why we can restart the economy after the COVID-19 shutdown. We know how to do stuff. We hit pause, to blunt the virus storm, now we can hit restart. We haven’t forgotten how to do the stuff that made us rich.
Lots can still go wrong. A particularly fragile part is the financial system. But I’m pretty positive that we can make it work again.
Photo Credit Steve Gerst. We had rain showers during our hike this morning and Steve got this photo.
Idea credit to Fred Hochberg author of Trade is Not a Four Letter Word
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Before the Chicxulub asteroid mass extinction strike, were the dinosaurs Democrats or Republicans? No matter, there will be survivors of this Carnivores Pandemic, and there will be rebuilding, even if only of termite colonies.