Now, at the age of 90, Thomas Sowell continues to offer us understanding and insight into the attitudes and institutions that can bring all people greater peace and prosperity, as well as human liberty.
Richard M. Ebeling
An old adage says that tragedies often come in threes. Certainly, the first half of 2020 has seen a version of this.
There is no “paradox” to increased savings and its underutilization for investment and employment purposes, when governments have barred the doors to the factory entrance and the shopkeeper’s counter.
If there is a chance to not only pull society away from the social and economic abyss towards which it is moving, but return it to a path more in the direction of personal liberty, economic freedom, and equal individual rights under partial rule of law and constitutionally limited government, it requires resisting the pessimism that all is lost and irreversible, and having the courage and willingness to try to restore the free society.
“Saving lives” is inseparable from saving livelihoods.
The collectivism virus need not destroy us, if we immunize ourselves with the philosophy of liberty and market liberalism. What we need is herd immunity, but that requires as many of us as possible to spread the ideas of freedom to as many of our fellow citizens as is possible.
Marx’s critique of capitalism and capitalist society has shaped much of the social thinking in Western countries that led to the welfare state and extensive government intervention into economic affairs.
In implementing these types of dictates and commands, with the implied attitude that government officials have no restraints on their controls and decrees other than the ones they decide to impose on themselves, American politicians are no different than their implicit mentors in Beijing, China.
The press conference President Donald Trump should hold now
Fundamental to everything that governments have been doing is the presumption that the crisis can only be handled and solved through a comprehensive system of political command and control.
Leave people free to make their own choices and allow the free market to work its miracle of fulfilling the urgent demands of the moment to save lives, supply very needed goods and services, and find profitable ways of keeping those goods flowing and jobs existing to maintain as best as possible our standards of living.
Economic nationalists seem to be applying Rahm Emanuel’s now famous phrase of ‘never letting a serious crisis go to waste’ in the service of a political agenda that might be harder to push in calmer times.
The decades-old “social liberalism” of the progressives has finally “come out of the closet” to, now, boastfully declare what it has always been – a form of socialism but made milder in sound with the modifier “democratic” in front of it.
These insights into the nature of the market process are part of Israel Kirzner’s lasting legacy to our understanding of the workings of the economic order.
A new spirit of intellectual intolerance has emerged and congealed in American academia. Their proponents are the new totalitarians who brook neither dissent, debate, nor disagreement.
How much of a private business’s profits have been made and earned through making that “better mousetrap” and how much is due to corruption and influence in the political arena. It all seems mixed together in the “mixed” economy.
Seventy-five years have now passed since that fateful meeting at Yalta. Stalin, who helped Hitler start the Second World War, reaped his reward at the end of it: Soviet domination of Eastern Europe, at the cost of terror and tyranny for all the people who were forced to live in the “socialist paradise” for almost half a century following the end of the war in 1945.
One of the most heated and controversial issues today concerns the place of slavery in the history of the United States, and attitudes toward the institution of human bondage in the Western world in general.
Voice of Capitalism
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