Wealth without Cost, Volume 1: White Alchemy in Economics

Economics was originally about Agriculture. Manufacturing was added in the eighteenth century, services in the nineteenth. To these three branches of economics, 'Wealth without Cost' adds the costless creation of wealth, the creation of economic value without the use of costly inputs. The costless inputs that create costless wealth are scarce but cannot be purchased; examples are loyalty, saving in perpetuity, giving, proprietary appropriation, stewardship, altruism, freedom.

But they can be identified, nurtured and used to good purpose.

Costless wealth creation is a neglected topic; possibly because economics is about scarcity and the assumption that whatever is scarce is costly and whatever is costless is not scarce. Wealth without Cost challenges this assumption and the thesis has important implications for policy makers and the increasing statism of the west. There is economic, political and moral value in people taking their own decisions up against the enormous cost of state control.

This important book argues that costless wealth may overtake services in importance, as services have overtaken manufacturing.