Hill’s Law of Economics

To continue with Napoleon Hill’s commentary on capitalism, he adds that the Law of Economics provides checks and balances for those who try to “get without giving.”

“There is but one dependable method of accumulating, and legally holding riches, and that is by rendering useful service. No system has ever been created by which men can legally acquire riches through mere force of numbers, or without giving in return an equivalent value of one form or another.”

He claims that the Law of Economics is “a law no man can beat.”

He says, “…it is far more powerful than all the politicians and political machines. It is above and beyond the control of all the labor unions. It cannot be swayed, nor influenced nor bribed by racketeers or self-appointed leaders in any calling. Moreover, it has an all-seeing eye, and a perfect system of bookkeeping, in which it keeps an accurate account fo the transactions of every human being engaged in the business of trying to get without giving. Sooner or later its auditors come around, look over the records of individuals both great and small, and demand an accounting.”

Growing up, my dad said this in a more succinct way, “what goes around comes around.”

Hill goes on to say, “The Law of Economics was passed by Nature! There is no Supreme Court to which violators of this law may appeal. The law hands out penalties for its violation, and appropriate rewards for its observance.”

Now, why talk about Capitalism and the Law of Economics on a coin blog?

Very simply, when times get tough, rare coins, bullion and commodities – including precious metals – increase in value.

Now, some pundits would have us think the nation’s economy has improved dramatically over the last few months. Others claim that gold and the precious metals have topped out and will level off or decrease from their current values.

On the other hand, other pundits claim “we ain’t seen nothin’ yet” for the economic challenges will get worse and the prices will increase.

Both extremes could happen, but the indications and facts lean more toward continued trials and tribulations.

If you’ve never read Think and Grow Rich or its been awhile since you read it, read a copy. (You can even find free versions on the Internet.) The parallels between the difficulties during the time he wrote the book and our challenges now are astonishing. Plus, his lessons for personal and business improvement remain timeless.

In the meantime, listen to the pundits – both the Negative Nellies and the Optimistic Ollies, but perform your own research into the facts before buying or bypassing  those rare coins, that bullion or the commodities stocks.