I was absolutely thrown from my chair the first time I had heard about Blank Check IPO’s.

We are now in a situation that is the opposite of the 1970s. Then there was a capital shortage. Now there is a capital surplus. Interest rates are historically low not because the central bank’s policies make it so. They contribute to it. But the fundamental problem is that there is a tremendous pool of money available for investment and a contracting number of microchip-based business opportunities to invest in. (Friedman, George. The Storm Before the Calm (p. 186)).

Is this a sign of too much capital to stunt growth? Is this a sign of inflation? What will the world do to adjust?

YOU DECIDE!!!

The foundation for all modern economic thought and political economy, “The Wealth of Nations” is the magnum opus of Scottish economist Adam Smith, who introduces the world to the very idea of economics and capitalism in the modern sense of the words. Smith details his argument in the following five books: Book I. Of the Causes of Improvement in the productive Power of Labour, Book II. Of the Nature, Accumulation, and Employment of Stock Introduction, Book III. Of the Different Progress of Opulence in Different Nations, Book IV. Of Systems of Political Economy, and Book V. Of the Revenue of the Sovereign or Commonwealth; which taken together form a giant leap forward in the field of economics.

I studied Adam Smith in college with a political science degree. It is fascinating how our startup countrymen figured out a system still in play today.