2 ms·
I'm a stay at home dad and have some thoughts. By staying at home, my children receive a bespoke education and my family bespoke consumer products (e.g. food a
by nataliste 2y ago
I'm a stay at home dad and have some thoughts.
By staying at home, my children receive a bespoke education and my family bespoke consumer products (e.g. food and entertainment) that far exceed anything my family can access through the market economy.
Just because I don't directly participate in the entrepreneurial system through taxable wages doesn't mean that I only marginally participate in it. My role is simply that of competing with business (in terms of efficiency and quality)--I find areas where I can do it better and more efficiently, then acquire capital and raw materials, use the capital to add value to the raw resources, provide those resources to the singular market that is my family, and then pocket the profit, which will inevitably be reintroduced back to the broader economy as investment and additional outlays, all of which are taxable.
The ultra-wealthy are afforded the right and ability to have exclusive access to personal assistants, au-pairs, tutors, professional chefs, gardeners, housecleaners, etc. I do all of these and more for my family (at well below market rate), using the same methods, tools, and products that they do, but the wages I receive and any profit (or losses) generated remain within my household such that it can be used for further consumption and investment. I still pay sales taxes on the capital and raw materials, but try to lower my tax burden and vertically integrate like any other business.
That I am free to choose to engage in this mutual exchange with my wife is the bedrock foundation of liberal capitalism and a free society. Frank Hyneman Knight, one of the forgotten architects of the Chicago School of Economics and the teacher of Milton Friedman frequently stated in his works that the individualism of liberalism should be more accurately called familism, because the basic effective economic unit is not the individual, but the family.
And he's absolutely right.