The Key To Success; R. Burnham II

If someone satisfies your wants or needs, you're willing to pay him. The more and the better products he pro vides you, the more you're willing to pay him. That obvious truth .also works in reverse. Our economy is so intricate and so complex that most people, through envy and prejudice, have lost sight of this simple truth: We are all paid Mr. Burnham is an insurance adviser and author (CPCU and CLU) in Southbridge, Massachusetts. 714 in exact proportion to the service we render others.. The more anyone wants your products, the more he will pay you. And, the more people who want what you have to offer, the more they will pay you. So, to achieve fi nancial success, simply offer. more and. better products to more people. Remember, and this is important, you must offer what others do want~ not what you think they should want. If you want something you have exactly four choices: 1) produce what others want and trade with those who produce what you want, 2) make it for yourself, 3) do without, or 4) steal it-either directly and illegally, or indirectly and legally by having the government take it for you. through taxation or regulation.

THE KEY TO SUCCESS: DO UNTO OTHERS 715 Stealing is unethical and counter productive whether you steal for yourself or hire someone, with your vote, to steal for you. Other people won't produce as much when they don't get to keep and control the frui ts of their labor. And, you'll di minish your own self-esteem. Doing without doesn't do you any good and leaves everybody else worse off too. You won't be as happy and they'll have to do without whatever you would have traded with them. Making it for yourself is an ac ceptable alternative except that it lacks all the advantages inherent in producing what others want and trading with them. Finally, producing what others want and trading with those who produce what you want benefits ev erybody. Why? For three reasons. First, by specializing in the areas we do and like best, we are each as pro ductive and happy as we can be with our work, so total wealth and hap piness are maximized. Second, in every voluntary exchange, each party gives what he values less for what he values more, so total satisfaction is increased. And, third, such trad ing builds good-will, decreasing the frequency and severity of both crimes and wars, so the prospect of peace is increased.

Upon understanding these simple truths, some people are surprised to discover that it's not the well-inten tioned social workers, the unfail ingly honest government workers, or the hard-working labor classes of the world who best berve humanity. In stead, it's the inquisitive inventors, the profit-seeking capitalists, and the self-interested . entrepreneurs who best serve humanity. In fact, the best single indicator of how well a pri vately-employed person serves his fellow men is his income. People don't earn high incomes by rapaciously crushing the little guy. They earn high incomes by efficiently filling the needs and satisfying the wants of others. To sum up, y;ou should seek your own self-interest. Why? To promote your natural right to survive and prosper. How? By serving others. You should serve o~ers. Why? To bene fit yourself. How? By trading better goods and services with more peo ple.

Do unto others as you would have them do unto YQu. Satisfy their wants and needs. It's the best way to attain the riches of this world. i IDEAS ON LIBERTY Immanuel Kant ACT only on that maxim through which you c~n at the same time will that it should become a universal law . ' Hans R Sennholz ARGENTINA ON THE BRINK IN MANY RESPECTS Argentina moves ahead of other Western countries. While the U.S., Great Britain, France, Italy, and others suffered double-digit rates of inflation in re cent years, the government of Ar gentina managed to inflate its peso at triple-digit rates. In the U.S., ex perts estimate that underground economic activity has risen to some 10 to 15 per cent of national income; in Argentina it is estimated to ex ceed 50 per cent. In the U.S., smug gling is limited by and large to the illicit importation of large quan tities of narcotics and medicines; in Argentina it probably covers the whole range of moveable goods. In the U.S. political terrorism, which is Dr. Sennholz heads the Department of Economics at Grove City College in Pennsylvania. He's a noted wri ter and lecturer on economic, political and monetary affairs.