October 19, 2006
By seadmin

"When everyone has a distinct interest, men will not complain of one another, and they will make more progress, because every one will be attending to his own business."

–Aristotle, Politics

Sound’s to me like the eminent philosopher was a free-market capitalist! Aristotle went further with his comments on the nature of private property, observing that it does not — as other thinkers argue — promote greed. In fact, Aristotle said private property was essential for the exercise of charity.

I always like reading about the history of markets because it makes you realize that no matter what time period you explore, the existence of free markets and free trade (or lack thereof) are essential to understanding any given culture. Aristotle’s defense of property rights, along with his brilliant defense of reason and the scientific approach to scholarship, are quite possibly the greatest contributions to humanity ever.

Wisdom about money, investing and life can be found anywhere. If you have a good quote you’d like me to share with your fellow Alert readers, send it to me, along with any comments, questions and suggestions you have about my radio show, newsletters, seminars, or anything else.

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