The Worldly Philosophers, Vol.1, Number 1 April 6, 2007 THE Worldly Philosophers Club For Individualists Who Seek Worldly Wisdom

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Jesus of Nazareth bound before King Herod* THE MILLIONAIRE FROM NAZARETH  By Mark Skousen "Imitate Jesus and Socrates."     -- Ben Franklin's List of Virtues Greetings, Worldly Philosophers!  Welcome to the first issue of my new e-letter.  Each issue hopes to entertain and educate you with stories and practical advice taken from my private library -- books about the lives of business leaders, entrepreneurs, investment gurus, scientists, and philosophers.     Given that it is Good Friday, I thought it appropriate to begin my first epistle with the story of a man often viewed as the most “unworldly” of philosophers! After all, Jesus of Nazareth took a vow of poverty, did he not?  Yet, the master teacher was a miracle worker who made his followers wealthy, both spiritually and materially.  The early Christians may not have had money per se, but Jesus provided for them.  When they were sick, he healed them.  When they were hungry, he fed them.  He turned water into the best wine at a wedding.  When his disciples went fishing and caught nothing all night, Jesus told them to cast their nets on the right side of the boat.  Their nets were laden with fish.  When his disciple Peter needed to pay taxes to the Romans, Jesus told him to go to the sea and in the first fish he caught he would find a silver coin in its mouth to pay the tax.  The homeless man of Nazareth was Lord of Plenty!    In 1925, advertising executive Bruce Barton published a bestseller called “The Man Nobody Knows.”  According to Barton, “Jesus picked up twelve men from the bottom ranks of business and forged them into an organization that conquered the world.”  Barton proclaimed Jesus Christ to be the “founder of modern business.”  Another book came out in 1979 called “The Millionaire from Nazareth.”  The author, Reverend Catherine Ponder, declared:  “A ‘millionaire’ is usually regarded as one who has a million dollars or more, but in its root, the word ‘millionaire’ means ‘abundance and happiness.’  Increased health, wealth, happiness and spiritual understanding are all possible when you begin to use the prosperity secrets taught by Jesus.”    The Seven Prosperity Secrets of Jesus  What can we learn from Jesus’s teachings?  His parables were above all practical.              1.  Multiply your talents.  In the parable of the talents, Jesus taught us to use our skills to multiply our investments.  He told the story of three servants:  one had 5 talents (silver coins) and turned them into 5 more talents in one year.  Another had 2 talents that became 4 talents in a year.  But the third buried his 1 talent in his mattress because he was afraid to take any risk.  When the master returned after a year, he commended the first two servants for doubling their investment, and were paid handsomely.  But he fired the last servant for failing to act.  “Could not I have earned interest on this one talent?” he asked.              2.  Live within your means.  Jesus told the story of the unfinished house, about the man who laid the foundation of a house, but didn’t have the funds to complete it, and become the laughing stock of the community.  When you expand your business or buy a new house, have the capacity to finance it!  In the past couple of years, millions of new home owners discovered they didn’t have the ability to pay their adjustable rate mortgages, and now they are defaulting on their loans.   The lesson is simple:  Don’t go overboard in your financial obligations.    The Parable of the Wheat and the Tares            3.  Beware of artificial prosperity.  Jesus tells the story of a wheat farmer whose crop comes under attack by an unknown assailant. In the middle of the night this enemy sows tares (weeds) in his wheat fields. Soon the farmer’s servants discover that the farmer’s crop appears to be twice the normal size. Yet the master realizes that half the crop is fake—weeds instead of wheat. At harvest time, the wheat produces good grain, while the tares are merely weeds and provide no fruit. The servants pull out the weeds and burn them, and store the grain in the barn.           The parable is imminently applicable to the recent wild ride on Wall Street. In today’s robust global economy, the wheat represents genuine prosperity—the new products, technologies, and productivity generated by capitalists and entrepreneurs. It represents real economic growth and when harvested, reflects a true higher standard of living for everyone. Under such conditions, stock prices are likely to rise.           On the other hand, the tares represent artificial prosperity that bears no fruit in the end and must be burned at harvest time. Where does this artificial growth come from? The central bank’s “easy money” policies! The Fed artificially lowers interest rates and creates new money out of thin air (through open-market operations). This new money, like regular savings, is invested in the economy and stimulates more growth and higher stock prices—higher than sustainable over the long run.           Who is the enemy who sows artificial prosperity?  Central bankers who expand the money supply and engage in easy money policies!            But there is no free lunch, as sound economists have warned repeatedly. At some point, the harvest time comes and the wheat must be separated from the tares. This is the crisis stage, where the boom turns into the bust. Harvest time in wheat is fairly easy to predict, but not so in the economy.  At some point, a “burning” of excessive asset values in the financial markets must occur. As Ludwig von Mises stated long ago, “if a brake is thus put on the boom, it will quickly be seen that the false impression of ‘profitability’ created by the credit expansion has led to unjustified investments.”           Lesson: Globalization and supply-side free-market policies have justified genuine economic growth and higher stock prices over the past two decades, but “easy money” policies have at the same time created an artificial boom and “irrational exuberance” on Wall Street. Ignore this lesson at your own peril. Remember the parable of the wheat and the tares!   The Golden Rule           4.  Follow the golden rule.  Jesus taught us to “treat others as you would want to be treated.”  Think of the golden rule the next time you do business, or meet a stranger.              5.  Go the extra mile.  In the Sermon on the Mount, Jesus encouraged his disciples to do more than what was required in their job.  General Patton advised his solders, “Always do more than is required of you.  By perseverance, and study, and eternal desire, any man can become great.”              6.  Be forgiving.  Jesus also taught his followers to be kind and forgiving, even to those who treat your badly.  Don’t be too judgmental, and above all, try not to hold a grudge.  Seek to reconcile your differences, and convert your enemies into friends.              7.  Be a light to the world.  Jesus taught, “Let your light so shine before men that they see your good works.”  Leonard Read, founder of the Foundation for Economic Education (FEE), referred to this scripture often.  He encouraged believers in free enterprise to meet often together and spread the word.  He would light a candle in a dark room to demonstrate how one person can make a difference.                In sum, the world would be a better place if we lived these worldly wise principles.    Good living, AEIOU, Marcus Aurelius  P. S.  Good news!  I am organizing the first conference for Worldly Philosophers and I hope you will join me.  The dates are July 5-7, 2007, at Bally’s/Paris Resort in Las Vegas.  It’s called FreedomFest, the most exciting, rewarding, create-your-own 3 day conference you will ever attended.  Nearly 600 have already signed up!  7 themes, 77 speakers, and over 777 Independent Thinkers   There's never a dull moment at FreedomFest.  We offer seven sessions simultaneously, including discussions and debates about investing, philosophy, history, science & technology, geo-politics, health, and the arts.   We offer an exhibit hall, a bookstore, several cocktail parties, lunches, and to top it all off, an incredible never-to-be-forgotten 7-7-7 Gala Banquet on Saturday night, all hosted by emcee extraordinaire Chip Wood.    Yes, all your favorite investment gurus will be there:  Alex Green, Horacio Marquez, Rick Rule, Addison Wiggin, Dan Denning, Van Simmons, Frank Trotter, Michael Checkan, Frank Holmes, Martin Truax, David T. Phillips, and Jack Pugsley.   Plus there’s more:  John Mackey, CEO of Whole Foods Markets; Muhammad Yunus, this year’s Nobel Peace Prize winner; Art Laffer, father of Supply-Side Economics; Steve Moore (Wall Street Journal); Charles Murray (author extraordinaire); Nassim Taleb (“Fooled by Randomness”);  José Piñera, the world’s foremost authority on Social Security reform; and marketing guru Ted Nicholas.   Plus dozens more speakers!    We will have a Big Debate on U. S. foreign policy:  Dinesh D’Souza, author of the controversial book “The Enemy Within,” and Larry Abraham (Insider Report) will debate Congressman Ron Paul and the irrepressible Doug Casey (International Speculator), with George Gilder as moderator.    Where will you be on 7-7-7?  Make it unforgettable.  Call Tami Holland, Conference Coordinator, 1-866-266-5101; go to www.freedomfest.com.   *PHOTO OF JESUS This is my favorite portrait of Jesus.  I don’t know who the artist is, but I’ve always been impressed with this painting ever since I first saw it in in Bogota, Columbia, many years ago.  I took a picture of it, and just this last month, I commissioned an artist to recreate it in oil.  I wanted to display in my home this portrait because it reflects a time in the last days of the Savior’s mortal life, bound waiting before Herod, and anticipating a terrible agony, yet he is serene in spirit and visualizes beyond his death a glorious resurrection and return to his Father.  (For more information on reproductions of fine art, please contact Ed Mero at www.prestigefineart.com.  Highly recommended!)