September 27, 2013
Joe Carter points to a Lifehacker article that sums up two basic equations that lead to the creation of wealth (with what I consider to be a clarifying correction applied in the first formula):
Income spending = surplus
Surplus x time = wealth
Likewise, Wilhelm Röpke, in his
A Humane Economy, points to two equations arising from classical literature that connect surplus with happiness and deficit to misery (the Micawber Principle).
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