Editor's note: Jeffrey Reeves' introduction provides an overview of this weekly blog series
"...three times as much by our pride…”
— Benjamin Franklin in the persona of Father Abraham
When Father Abraham talks about ‘pride’ as a treble-tax, he’s reminding America of one of humanity’s longest standing foibles: keeping up with the Jones’s.
Perhaps it’s just human. It’s been a recognized human frailty since Cain whacked Able.
Spending money that you control in an attempt to appear affluent, sophisticated, educated, informed, well-connected, etc. is nothing more than trading real money for imagined gains that are no more substantial than smoke.
Many Americans believe wrongly that investments — over which they have no control — measure wealth, and possessions
that they do not own — bought with borrowed money — measure well-being.
Darn Jones’s. Literally more trouble than they’re worth.
Think about it...