Last week, we were discussing the Obama administration\u2019s anti-freedom, anti-capitalist agenda.<\/p>\n
When a political leader snidely ridicules the free market, characterizing those who challenge his initiatives to vastly expand federal regulation and management of the economy as being in the pay of \u201cgreedy insurance executives,\u201d \u201cbig bankers,\u201d and the like, I don\u2019t see how anyone can argue he\u2019s not against the free market.<\/p>\n
In fact, they don\u2019t. Mr. Obama\u2019s champions respond by citing all the injustices which they believe are wrought by the free market.<\/p>\n
Therefore, by their own words, their agenda is anti-freedom.<\/p>\n
Their fall-back position appears to be, \u201cOK, we\u2019ve acted like fascists, but it\u2019s all temporary, and it had to be done or things would have gotten much worse.\u201d<\/p>\n
But the huge government economic interventions of the past three years — under Bush and Obama both — have done far more harm than good. Angela Merkel in Germany resisted calls for huge government \u201cstimulus\u201d spending on the Bush-Obama-McCain model. Left to their own devices, German employment and modest economic recovery are now doing better than ours.<\/p>\n
Every Obama promise about how \u201cstimulus\u201d spending would limit unemployment and other signs of deepening recession has proven wrong. But who would expect otherwise? I doubt there\u2019s been an administration in history whose members have so little cumulative experience running real, for-profit businesses in the free market. Who but a permanent prisoner of the ivory tower would expect any benefit for the private sector from a policy of government soaking up all the nation\u2019s available credit and channeling it to \u201cprotect\u2019 existing government bureaucrat jobs?<\/p>\n
The leftists cackle that non-Democrats \u201coffer no solution\u201d except to \u201cdo nothing.\u201d<\/p>\n
Precisely. Faced with a serious depression in 1921 as the American economy corrected from its wartime footing, Warren G. Harding did little to block the necessary deflation, instead slashing government expenditures while advising that the bankruptcy courts were there for those who needed them. Once it was obvious Washington was not going to step in to prop up wages or prices or anything else, the free market made its adjustments, and the correction of 1921 was over in 18 months, setting the stage for the boom of the 1920s.<\/p>\n
The shrieking harpies of the left condemn the free market, saying it leads to greedy CEOs like those of Enron \u201cripping everybody off.\u201d<\/p>\n
In fact, the vast majority of private businesses offer good value and honest service, which (unlike government) they cannot require us at gunpoint to buy, and the chiefs of the few that commit theft or fraud usually go to prison. How many Washington politicians have gone to prison for violating their oath to \u201cprotect and defend\u201d a Constitution that grants them only sharply limited powers?<\/p>\n
In his 1956 essay collection \u201cThe Anti-Capitalistic Mentality,\u201d the great Austrian economist Ludwig von Mises tackled the puzzle of why the biggest vilifiers of capitalism here in the West tend to be not oppressed low-wage proletarians, but rather members of the academic, entertainment, and\/or political elites whose standard of living is actually far above average.<\/p>\n
What von Mises submits — and you could hardly have ordered up a more convincing example than the \u201cNevada\u2019s Depravity\u201d Opinion piece, by UNLV professors William Epstein and William Thompson, which ran on the cover of the May 2 Review-Journal Opinion section — is that what these elites object to is precisely that capitalism and the free market give the mass of people what they want, and reward those who provide it.<\/p>\n
Even though these professors, elected officials, and entertainment \u201cpersonalities\u201d are hardly starving, they\u2019re horrified to see the bigger mansions and the fancier cars going to people who, in their minds, are a bunch of quasi-literate \u201cdese and dose\u201d numbskulls who make their millions catering to the common folk\u2019s lowest self-destructive desires, providing them with taverns and casinos and fast food, racetracks and stock cars and girlie bars and \u201caction films.\u201d<\/p>\n
This offends them! The obvious answer is to prevent the idiot mob from wasting their excess income on such base pursuits. Instead, all they earn beyond their needs for food and clothing must be seized through taxation and given to us! After all, are we not the elite of the elite, the tiny percentage who have been awarded Ph.D.s, who have been elected to high public office?<\/p>\n
Give the money to us and WE will see it\u2019s spent providing the peasants with things they SHOULD want — opera, ballet, thoughtful French films, all manner of things that will ELEVATE the popular taste, not cater to its lowest common denominator!<\/p>\n
Down with Wal-Mart! Bring back Madame Fifi\u2019s Elite Boutique!<\/p>\n
The free market — \u201callowing\u201d people to exchange goods and labor voluntarily, rather than having government goons with guns tell us what we can buy or sell and how much we\u2019re required to charge for it — has given America the greatest level of wealth known to history. The socialists actually contend that\u2019s bad, complaining that wealth is \u201cunevenly distributed.\u201d<\/p>\n
So are energy and talent. Blame God.<\/p>\n
Even the \u201cpoor\u201d in America are vastly better off than in 90 percent of the world, and vastly better off than our grandparents. Show anyone outside this country a photo that ran in this newspaper not long ago, of a well-dressed, overweight welfare mom using the antenna of her cell phone to point at the leaky ceiling which she was complaining the Housing Authority had not yet fixed, while in the background her two teen-aged boys lounged on a sofa in broad daylight, watching a color TV. Try to convince them this woman is \u201cpoor and oppressed.\u201d<\/p>\n
Whereas in every experiment in which men with guns were allowed to grab the wealth and \u201credistribute it,\u201d everyone ended up poorer … including the poor.<\/p>\n
If you take away the stuff I can gather up by working hard, I\u2019m either going to move where I\u2019m allowed to keep the fruits of my labor, or else I\u2019m going to stop working so hard … if at all.<\/p>\n
A limited government, concerning itself primarily with protecting our freedoms, has given us the greatest prosperity, the most effective division of labor, ever seen. Compulsion systems, on the other hand — like those prevalent in eastern Europe from 1917 and especially from 1940 to 1990 — have created widespread poverty, desperation, starvation, suicide, and slavery.<\/p>\n
Those have been the universal outcomes of the repeal of freedom and the free market.<\/p>\n
If you doubt it, get back to me in a year or two, and let me know what two or three full years of our current, hell-for-leather, Obama-Reid leftist agenda have wrought.<\/p>\n
Because I think there are going to be some foreclosures. Some commercial land loan defaults. Some Asians refusing to buy any more of our debt unless we sign over some of the smaller states and territories as collateral. A bit of inflation. A bit of resistance. A boycott of America by foreign tourists tired of being groped and prodded by the TSA.<\/p>\n
Mr. Obama says the economy is \u201crecovering.\u201d I suspect he\u2019s either lying, or a shocking economic naif, or both. <\/p>\n","protected":false},"excerpt":{"rendered":"
Last week, we were discussing the Obama administration\u2019s anti-freedom, anti-capitalist agenda. When a political leader snidely ridicules the free market, characterizing those who challenge his initiatives to vastly expand federal regulation and management of the economy as being in the pay of \u201cgreedy insurance executives,\u201d \u201cbig bankers,\u201d and the like, I don\u2019t see how anyone […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":false,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[39,18],"tags":[],"class_list":["post-507","post","type-post","status-publish","format-standard","hentry","category-2010-election","category-economics"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/pWqFl-8b","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/posts\/507","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=507"}],"version-history":[{"count":1,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/posts\/507\/revisions"}],"predecessor-version":[{"id":508,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=\/wp\/v2\/posts\/507\/revisions\/508"}],"wp:attachment":[{"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=507"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=507"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/vinsuprynowicz.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=507"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}