In Defence Of Free Markets

Why is it that no one defends free markets, and socialism, despite all the evidence of its failures, comes back again and again? Unsurprisingly, the answer lies in politics, which have always led to a boom-bust cycle of collective behaviour. Furthering our understanding of this phenomenon is timely because the old advanced economies, burdened by a combination of existing and future debt, appear to be on the verge of an unhappily coordinated bust. But that does not automatically return us to the free markets some of us long for.

Cycles of collective behaviour

Throughout history there have been few long-lasting periods of truly free markets. Contemporary exceptions are confined to some small island states, forced to be entrepreneurial by their size and position vis-à-vis the larger nations with which they trade. The governments of these islands know that the state itself is not suited to entrepreneurship. Only by the state guarding the freedom of island markets and the sanctity of property rights can entrepreneurs serve the people in these communities and create wealth for all.

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BERNIE: ‘You’re Damn Right’ Health Insurance Companies Should Be Eliminated

[Not much doubt – the UGLY face of Socialism in the Democratic party. -Bob]

By Lionel Parrott – Re-Blogged From Liberty Headlines

‘You are not going to be able…to have cost-effective, universal health care unless you change the system…’

(Lionel Parrott, Liberty Headlines) Democratic senator and presidential candidate Bernie Sanders (D-Vt.) isn’t backing down from his call to eliminate health insurance companies, according to an article from The Hill.

After the Republican National Committee (RNC) tweeted Tuesday that the Vermont senator had called for eliminating health insurance companies, Sanders proudly tweeted back: “You’re damn right.”

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Central Planning Is More than Just Friction

By Keith Weiner – Re-Blogged From Gold Eagle

It is easy to think of government interference into the economy like a kind of friction. If producers and traders were fully free, then they could improve our quality of life—with new technologies, better products, and lower prices—at a rate of X. But the more that the government does, the more it burdens them. So instead of X rate of progress, we get the same end result but 10% slower or 20% slower.

Some would go so far as to say, “The free market finds ways to work even through government restrictions, taxes, and regulations.” We won’t address cardboard straws emerging where plastic straws are banned. Or gangs selling illegal drugs on the black market, when they are prohibited by law.

As usual, we want to talk about the most important kind of government intervention. And it happens to be the one kind of government intervention that is accepted by nearly everyone. The intervention supported by the otherwise-free-marketers.

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Professor Calls Out College Administrators for Overwhelming Liberal Bias

Re-Blogged From Total Conservative

You don’t really expect to see a college professor calling out college administrators for their liberal bias, and you really don’t expect to see them do it in the pages of The New York Times, but hey, the Gray Lady throws us a bone every now and then. On Tuesday, Professor Samuel J. Abrams of Sarah Lawrence College argued that while there was no question that professors and academics tended to be on the more liberal side of the spectrum, the imbalance was nothing compared to school administrators, who are practically walking in lockstep towards a more “progressive” future.

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Macroeconomics Has Lost Its Way

By Alasdair Macleod – Re-Blogged From Silver Phoenix

The father of modern macroeconomics was Keynes. Before Keynes there were macro considerations, which were firmly grounded in human action, the personal preferences and choices exercised by individuals in the context of their own earnings and profits. In order to give a role to the state, Keynes had to get away from human action and devise a positive management role for central planners. This was the unstated purpose behind his General Theory of Employment, Interest and Money.

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State or Individual?

By Alasdair Macleod – Re-Blogged From Gold Money

The most important question faced by the human race is almost never addressed in modern times: which should be the master, the state over the individual or the individual over the state? It is particularly relevant today, bearing in mind President Trump is demolishing the established order both domestically and within America’s wider sphere of influence. The blowback he is getting from all the vested interests that have wormed their way into the processes and assumptions that drive government policy is considerable. It is very much relevant to the UK’s Brexit process, where the establishment is trying to scupper the freely expressed will of the people in a referendum.

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Marx: The Worst Man In Modern History

By Alasdair Macleod – Re-Blogged From http://www.Silver-Phoenix500.com

It seems extraordinary that in defiance of all factual history and philosophical knowledge anyone should celebrate the bicentenary of the birth of Karl Marx. More than anyone, through wrong-headed ideas, he bears responsibility, indirectly admittedly, for the deaths of an estimated one hundred million people in the last century, and the severe suppression though economic and social servitude of fully one third of the world’s population. And if you also include those who have suffered under the yoke of Marxist-inspired modern socialism, the philosophy that says the state is more important than the individual, you could argue nearly the whole world is influenced by Marxian philosophy today.

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