As Mises said, if we want, peace, freedom and prosperity, there is no alternative to the free market economy respectful of competitive entrepreneurship and consumer choice.
Richard M. Ebeling
Listening to some in American academia and on social media, you would think that socialism was a bright, new, and shiny idea never tried before that promises a beautiful future of peace, love, and bountifulness for all. It is as if a hundred years of socialism-in-practice in a large number of countries around the world had never happened.
President Biden and those around him are attempting to implement through executive order and other means are policies and political positions that many in the society do not share or to which they do not assign the same degree of urgency.
President Biden’s “closed shop” labor union agenda would rob all those working for a living the liberty and latitude to do so freely and of their own choosing.
We should remember and appreciate episodes in history like those in Lithuania in January 1991, in which a people oppressed by socialist tyranny said, “No,” and insisted upon regaining their freedom.
There are few works in the history of economics that may be truly considered “revolutionary” and “path-breaking,” in its starting premises, its logic, and its implications. But one that is in this category is Carl Menger’s Grundsätze der Volkswirtschaftsliche, his Principles of Economics in its English translation, which marks this year the 150th anniversary of its publication in 1871.
End Government Paternalism and the Private Sector Will Do the Job
It is difficult to see the difference between an actual free market and the interventionist system under which we live because so many across the political spectrum refer to ours as a “capitalist” society.
In the wilderness of the New World, the Plymouth Pilgrims had progressed from the false dream of communism to the sound realism of capitalism.
Michelle Obama’s words imply that if there is to be healing and uniting it means that all those who think the “wrong” way must come over and only think according to the anti-capitalist “progressive” worldview of those on “the left.”
What do the Great Depression and the Second World War have in common with the coronavirus crisis of 2020? They have all been caused by government!
What really stood out in the vice-presidential debate that said something meaningful, not just about this election but the political times in general in which we live? That both the Trump-Pence and Biden-Harris teams have Big Plans to run your life.
What Professor Mazzucato calls for is better labeled a fascist-style command economy rather than some asserted form of modified capitalism.
Keynesian Economics has continued to dominate and hold sway over the way the vast majority of economists think about and analyze the nature of economy-wide fluctuations in employment and output.
In Aristotle, we find a more subtle and sophisticated understanding of some economic themes than in Plato. While Aristotle’s answers were incomplete and often misdirected, as well as incorrect, he at least was among the first to ask the types of questions that centuries later became part of the heart of economic analysis and understanding.
For Uncle Joe, “community,” “compassion,” and “love” means command and control government.
America’s disastrous history with central banking makes the case for why paper money and central banking are what should be challenged.
In the absence of government regulation and monopoly control, a free monetary and banking system would exist; it would not have to be created, designed, or supported. A market-based system would naturally emerge, take form, and develop out of the prior system of monetary central planning.
Voice of Capitalism
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