Whether at least part of Ukraine survives as a free and independent country when this war ends, or whether that will have to wait until some time in the future, Ukrainians will have to plan for the reconstruction of their economy at some point in the future. The economic policy agenda for such a reconstruction is at least partly at hand, and can be found in the writings of the Austrian economist, Ludwig von Mises.
Richard M. Ebeling
The desire of “spreading the wealth” and for government to plan and regulate people’s lives is as old as the utopian fantasy in Plato’s Republic.
What passes for “deregulation” or market-based reform has limited connection with any call for a truly laissez-faire capitalist United States.
There is, today, a new chorus of voices once again calling for a socialist future of increased political paternalism and forms of centralized economic planning.
It is vital for the history of socialism not to be forgotten by those fortunate enough not to live under its reality of terror, tyranny, and social disaster, less history tragically repeat itself.
Carl Menger’s Free Market Advice to an Austrian Crown Prince
In the wilderness of the New World, the Plymouth Pilgrims had progressed from the false dream of communism to the sound realism of capitalism.
Looking over that list of hundreds of branches of the federal government also makes clear the absurdity and total misinformation of those who daily insist that America is a wild land of unregulated “laissez-faire,” where anything goes, with government being some small, poor, and starved appendage to an “out-of-control” free market.
For the government to do things “for you,” it must have the power to do things “to you.”
Joe Biden’s demagoguery, arrogant impatience, and dictatorial manner do not and cannot change reality. At the end of the day, his policies can only lead to a financial and economic disaster.
Virtually every politician runs for office on a campaign platform that promises to extend concrete and specific benefits to various selected groups through the taxing or regulating powers of government.
Nothing says you really “care” in politics as a demand to spend $1 trillion of other people’s money on “essential” public “need.”
The thought of living within a balanced budget sends a frightening shiver down almost every politician’s spine.
George Orwell famously coined the term “newspeak” in his 1949 anti-utopian futuristic novel, 1984, in which commonsense words were reversed in their meaning. Biden’s latest executive order provides a modern illustration of “newspeak” in the 21st century.
The “monkish ignorance and superstition” of today is the misplaced belief that the individual is to be sacrificed to the group, the collective, to the nation – as long as the banner under which it is done is called “democracy” or “social justice.”
To use Keynesian terms, employment in the United States is not suffering from an “aggregate demand” failure. There are plenty of job openings; it is a failure of a good number of employable people not being interested in filling the slots employers would like to fill. Why?
Inflation is a form of tax, under which portions of the citizenry’s income and wealth is taken from them through reducing the real buying power of money held by all those in the private sector and the general public.
Keynes used the “technique of obscure arguments followed by clear and triumphant conclusions.”
Voice of Capitalism
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