While I'm not going to delve into the pros and cons of any economic or political system in this post - and I encourage others to refrain from doing so - I had a recent conversation on this very topic in which I expanded on the original concept after explaining its origin and felt that there are, in fact, a number of lessons to be learned from it. Originating from a series of fantasy novels by Terry Pratchett, the 'Boots Theory' of socioeconomic unfairness, as generally stated by Captain Samuel Vines, is that the wealthy are wealthy because they can afford to spend less money. His example was a pair of boots. A pair of quality boots that would last a man 10 years might cost $50, which a wealthy man could afford to buy. A cheap pair of boots, however, might only cost $10, which a poor man could afford to buy. However, when the cardboard started to break down, the poor man ended up with wet feet and needed to replace those boots every year. So, after 10 years, the wealthy man has spent $50 on boots while the poor man has spent $100 - and still has wet feet. While this illustration may or may not have been literal in that fantasy world, it can certainly be taken figuratively in the real one. Quality items typically last longer than inferior ones. However, the expansion I made on the topic - still figuratively centered around boots - is that the original illustration, while elementary, is actually also underselling the point. You see, it ignores the factors of time and redundancy. Following the original illustration, a wealthy man can afford to buy five pairs of quality boots in different styles and/or colors - along with higher-cost maintenance products to accompany them. For the sake of argument, let's say that adds another $50 - bringing the grand total to $300. This allows the wealthy man to rotate his boots, making each last much longer than if they were worn every day. A wealthy man also has the time to regularly maintain his boots - especially the ones he isn't wearing, giving them time to rest and dry. As a result, that wealthy man could expect to get well over 60 years' worth of boot wear out of that $300. Meanwhile, the poor man can only afford one pair of cheap boots at a time and has neither the extra time nor the energy to keep them properly maintained. As a result, for him, we are back to the original calculation, plus a little extra cost, averaged out to each year, for things like patches, broken laces, and the emergency replacement pair of boots from time to time ahead of the expected 1-year lifespan - bringing the poor man's annual cost up to, say, $15. This means that after 60 years, the poor man has spent three times the amount the wealthy man has spent on boots.

As the title says.

It's Wednesday! The middle of the week, so that means CHARGE!! Keep running and keep going. The sun is out after several gloomy days of rain. The sun makes me smile. I have a busy office day today and then a dinner out with my wife and best friends! My wife's best friend from 7th grade married my best friend from college (after my wife and I started dating). It is such a special relationship, so I will add my Blue blazer tonight for dinner and rest assured my friend and I will behave like we did in college and get several eye rolls from our wife's. That translates to "Job Well Done" for us both as we consider it a win if we can get those looks from our spouses after almost 40yrs together!! Hope you all have a wonderful Wednesday!!