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.
Richard M. Ebeling
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.”
Mariana Mazzucato’s and Joe Biden’s political missions and big economic central plans require all of us to give up our own individual and personal plans to be straightjacketed into their compulsory designs for us.
Richard Ebeling on why armed self-defense is essential in a free society.
Menger’s Distinct Approach to Economic Thinking
Our dilemma, today, is that, to use John Stuart Mill’s phrase, we have a political system in which many who have the right to vote use it “to put their hands into other people’s pockets for any purpose which they think fit to call a public one.”
America has entered into a new era of thought control. What is being insisted upon now used to be known as tyranny and criticized as dictatorship.
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.
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.
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!
Voice of Capitalism
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