After reading an economic report, it dawned on me that no matter how much one may use statistics, they are essentially useless. These statistics ignore the important issues of life. In other words, so what if someone lives in a mansion and someone else lives in a modest dwelling? Both are headed to the same place the grave. This is not to ignore the fact of abilities. Each of us must develop our talents to their logical conclusion. A place to live in is just that a place to live in.
The key to living the good life is not to spend more than one earns. This takes what most people lack, self discipline. Most people refuse to do this. This means that someone else must do this for them. This is why credit cards have credit limits. Exceed the credit limit and theses companies who issue the cards cut you off. Like a good bartender who realizes that you have had too much to drink, cut them off before they have gone too far. Most people desire to live in an utopian world, in which, they do not have to pay back their bills. They are wicked, by definition. This is the message of Psalm 37:21, "The wicked borroweth, and payeth not again: but the righteous showeth mercy, and giveth." We see that numbers really having nothing to do with anything. It is an attitude of the heart. Wicked people borrow on credit cards but have no intention of repaying their just debts. This is because they are not justified.
Most investment advisors do not realize that all of life is theologically based. They like so many others are simply fools. They do not and cannot advance good monetary policies. They may rail against the policies of the Federal Reserve but they do not claim that God created the world and therefore, we must conform ourselves to God’s law or fail miserably. They do conform to the extent that allows them to function. However, they do not want the root, just the fruit.
The numbers that economists and financial advisors use are astronomical. They are basically beyond the level or of our comprehension. Besides all of that, they are not realistic to each and everyone’s well being. In other words, each of us must be guided by self-interest to a certain extent but also the well being of our neighbor. Paul expressed this truth in Philippians 2:3-4, "Let nothing be done through strife or vainglory; but in lowliness of mind let each esteem other better than themselves. 4Look not every man on his own things, but every man also on the things of others." Yes, we are motivated by self-interest. However, this must not be our driving force. We must realize that we live in a world with other people. We must, first and foremost, seek to advance their cause, then we can see our ideal moving forward.
The law of God is very clear in this regard in Leviticus 19:18, "Thou shalt not avenge, nor bear any grudge against the children of thy people, but thou shalt love thy neighbour as thyself: I am the LORD." This is the key to long term success in any and every endeavor that we find ourselves. Loving our neighbor does not mean that we tolerate everything that our neighbor is involved in. It does mean that we treat each and every individual that we have contact with the same treatment that God’s law places upon us for them. This means that our prosperity depends upon others more than ourselves. This is, of course, contrary to popular wisdom.
Thus, it should be apparent that our best investment is into what is known in economic terms as "human capital." Capital is comprised of land, labor, and capital. The most important part of this equation is labor. The other components are inanimate objects that cannot think. They are the tools of production that allow us to increase our wealth. It should be our intent to always be increasing our net worth. Productivity is a Godly pursuit.
Wealth creation should be something that we should actively be seeking. It benefits everyone and is a component of loving our neighbor as ourselves. In other words, it is a win, win proposition. They wealthier a society becomes, the wealthier each and every member also becomes. Wealth with godliness is a good thing. Paul expressed it this way in 1 Timothy 6:6, "But godliness with contentment is great gain." We need to learn to be content with our situation. God works through His divine providence. In other words, He knows what is best for each and everyone of us. We must realize that each and everyone of us have limitations. We are not God, in other words.
Each of has been given talents and abilities. We must seek to expand them to their uttermost. This means that we must either be generalists or specialists. Some people are more versatile than others. They can excel at whatever they do. Most, however, can perform certain tasks, if given the right instruction. In other words, the vast majority can only perform within given parameters. There is a tremendous need for these people. They perform the menial but essential tasks within each and every organization. Their pay scale reflects their given skill level.
The market system is not a respecter of persons. Only the successful achieve above market rate of return. The market system weeds out the losers from the winners. The market system sees everything in either black or red. There is no neutrality in the market system. Most employees have no idea what a profit and loss statement is. They are not trained accountants. The profession of accounting is based upon balance. This is what is known as double entry accounting. In this world, everything balances out.
The law of the market is the law of supply and demand. If the demand for your product exceeds your expenses for supplying the product, then you have a residual known as profit. You are ahead of the game. You have achieved a level of efficiency that is profitable or productive. This is a good situation to be in. The hard work is now behind you because you have achieved an economy of scale that allows you to compete in the market. In other words, you have moved past the critical mass state and now are able to build upon your past accomplishments. The key is to keeping moving forward. Someone who is serious about being successful in their endeavors will not rest on their laurels.
The time to write your memoirs is when you are to old to do anything else. Success is based upon productivity and upon nothing else. Only the productive survive long term in the market system. The rest only eke out a minuscule existence. In other words, excellence is not a watchword for the vast majority of people. They are content with mediocrity. Their names are legion. These are not the movers and shakers within the market. Few and far between are the individuals who impact their chosen profession.
Who do I think will be successful in their chose vocation? Simply, those who understand that the world they live in is guided by law. That is law as an absolute, not as they choose, but that which is already derived from above. They may not know it intellectually, but intuitively, they understand it. The concept of transcendence is not something someone in business would present in his presentation, but it exists as an implication. Most people do not think with theological categories, but they display them in everything they do whether spoken or not. It is never a question of theology or no theology, but which?
The market governs itself upon the basis of law. No employer tolerates lying and cheating. On what basis does he do this? He has to believe in some things are right and some are wrong. Even a sinner does not want someone to lie to him. It is okay if he lies about everything, but just do not do it to him. He will surely resent it. It is amazing what some people will allow with themselves but will not extend the same benefit to others.
One thinks about competence when one wants to hire any individual. Most employers fail at this point. Most employers are too cost conscious. They do not realize that they end up spending more in the long run by their poor personnel choices than by investing a little more in a quality choice. In other words, you get what you pay for. This is the law of likes begetting likes. Mediocrity begets the same. Therefore, the Frugal Accountant is success oriented because he is productive oriented. Being mediocre does not enter into the equation.
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