Whole Life Insurance Supports Austrian Economics Better Than You Think!

[@kushagramerchant964]

Having followed your channel for some time now, Bruce's introductory comment was almost proverbial. The fact that inflating the money-supply to escape consequences of one's own errors is both morally irresponsible and intellectually dishonest takes such a long time to get a handle on. Please continue these reminders periodically as they bring the spotlight back on the broader context and purpose behind infinite-banking. A question: how would Austrian economics respond to the critique that what may be in the interest of an individual to do may sometimes greatly damaging to the system as a whole? In other words, is thisemphasis on the individual always rational or perhaps the term liberty is slightly broader and really covers smaller autonomous and self-adaptive structures of society such as family, local communities, small voluntary associations, local religious congregations etc.? (Incidentally, I am from India and the insurance products here do not lend themselves exactly to Nelson's meassage: yet whatever I have been able to craft in terms of a 'family bank' just in the past 3-odd years has still managed to produce a far more resilient balance-sheet. Appreciate the quality of the conversations and for making them freely available. You may not be able to fully realise how valuable acces to such content is for someone situated in a wholly different context thousands of miles away. The fact that Nelson's ideas can cross borders testifies that they possess elementary truth. Wish you both the best.)

[@TheMoneyAdvantage]

Thank you for the detailed response, and glad to hear you find our content valuable worldwide! While I cannot speak for "Austrian Economics," I can say that personally, I think a system that maximizes people's individual freedoms will, over the long run, be what's in the best interest of the whole. Having said that, there are caveats, as I don't believe in unfettered freedom or Licentiousness. Thus, we need a system that punishes bad behavior. Humans are not angels, but ultimately, it's in our best interest in the long run to consider others. Thus, sustainable wealth is obtained through serving others. Prioritizing the value we provide before the compensation we receive.

[@opsisone]

Austrian Economics deals with how a society forms and thrives or collapses. Accounting and banking being an outgrowth of societies successfully organizing. All other economic theories deal with how to manipulate the Accounting to make a society look likes its thriving even if it's collapsing.

[@TheMoneyAdvantage]

Great insight! Thanks for sharing.