Thomas Woods starts off his new book by mentioning the supposed reason for our economic ills that is endlessly squawked by the economically ignorant/misinformed parrot like repeaters of our society:
‘The free-market economy has failed! The free-market economy has failed!’
(Polly want a Federal Reserve Note?)
It is difficult to think of a statement that could cause a greater feeling of annoyance and absurdity among frequent visitors of mises.org, but just for fun, I will try. Perhaps “The Federal Reserve fights inflation”? Better yet, how about when one of the gang of 534 in D.C. – I think you all know who the exception is – somehow say with a straight face, “I do solemnly swear that I will support and defend the Constitution of the United States against all enemies, foreign and domestic”?
How can something that doesn’t exist fail? (In a related story, my starship, the U.S.S. Free Enterprise, failed to go to warp speed earlier today. L ) After all, a truly free market, free of ALL government intervention in the economy has never existed in recorded history; although Murray Rothbard’s For a New Liberty shows how it could work. Those who think that “the free-market economy has failed” would do well to realize that a truly free market is one that is free from government intervention – which includes: borrowing, spending, taxation, inflation, protectionism, price/wage controls, regulation, etc.
Jacob G. Hornberger expressed this well in a recent article: “America was founded on the principles of a free market. What "free market" meant was that market activity was free from government control. That is, "free market" didn't mean less government control or regulation of market activity, it meant free of government control or regulation.”
But the same old so-called solution for “getting the economy going again” is more government intervention and control of the economy. Yet these…oh, how shall I describe the politicians in the District of Criminals…Ah! I know! A funny bit by the brilliant Bill Hicks describing pro-lifers - talk about pessimism porn – fits the Demopublicans perfectly:
"Some people say these pro-lifers are annoying idiots. Others think they're evil f**ks. People – please!? Can't we just come together and call them evil annoying idiot f**ks?"
As I was saying – yet, these evil annoying idiot f**ks in D.C. continue the same deceitful, immoral, and harmful policies that, if not stopped soon, will completely destroy the purchasing power of the dollar and the entire economy along with it. I am hopeful though, that if and when that does happen, Americans will realize that this whole mess was caused by government and not capitalism. I am confident it will be realized that the less government interferes in the economy the more people are able to produce and trade freely.
The federal government is so utterly horrible at everything it attempts to do. So much so that I think it has made a great case for the state-less society that Rothbard envisioned. Not to mention the fact that they have done such a good job at bankrupting us that steps in the Rothbardian direction may have to be taken out of necessity. My biggest desire is that I live to see the day where a truly free (i.e. pure libertarian/anarcho-capitalist) country is established. My second biggest desire is to have enough fiat currency left at the time to buy my ass a one way ticket there. (Unless it turns out being in America; in that case I will save the money to buy that as of now non-existent starship.)
Mr. Woods doesn’t waste any time destroying the attempted intellectual assault by the numerous anti-capitalistic forces, noting how the current economic crisis was directly caused by government intervention. Best of all, he doesn’t waste any time getting to the underlying cause, the Federal Reserve System.
I like to make the following point to people who support anti-trust laws because of supposed “monopolies”. Every sane person will agree that a true monopoly is bad. After coming to an agreement with someone about that, I ask what they think the most dangerous and destructive (true) monopoly possible could be; the answer, of course, is the unjust monopoly of the money supply currently held by the Federal Reserve. It is truly a tragedy that so few people are aware of the Fed, its control of the money supply and interest rates and how the many bubbles that ensue must inevitably burst.
The great majority of people were against the bailouts of last fall, but of course that did not stop Congress. The ignorance and corruption in Congress disregarded the following would-be obstacles in passing the bailout.
- The Constitution. (I know, I know…Tell you something you don’t know)
- Their intended role as representatives not of special interests, but of their constituents – and to truly represent the wishes of their constituents, not to vote contrarily for any reason other than unconstitutionality. In that case they should attempt to amend the constitution.
- What was supposed to be our economic system – free-market capitalism with sound money.
- What should be common sense; there is nothing right or beneficial about stealing successful people’s money to prop up people who fail. Let them go bankrupt so the scarce resources in their possession can be put to better and more efficient use.
- Hehe...I almost said morality. But as the great Jim Rogers says, “Politicians don’t care about morality.”
I had HOPE that soon after Obama was inaugurated and proceeded to CHANGE approximately 3% of Bush’s policies that people would wake up and realize he is just more of the same. It looks like people aren’t ready to admit that quite yet, thanks to ignorance fueled by:
· What passes as a free press in this country - According to Reporters without Borders, the U.S. is ranked in 53rd place regarding press freedom – tying with such countries as Botswana and Croatia.
And most importantly,
· “The deliberate dumbing down of America” – as Charlotte Iserbyt calls it in her FREE book of the same name – through the public school system.
The public schools have indoctrinated children into thinking that government is a force for good and that capitalism is a force of evil. A link to a study I got in my email recently demonstrates this:
US:Poll shows only 53% favor capitalism over socialism - but few can define either one. For decades America has been a socialist (collectivist) country calling itself capitalist. Citizens have no understanding of ideology. 'If you don't believe in something, you will fall for anything.'
(On a side note, I got the link through Unfiltered News, compiled by G. Edward Griffin, author of The Creature from Jekyll Island. You can subscribe to receive it in your email for free weekly here.
As Mr. Woods says, “We cannot expect the situation to improve until we understand how we got here.” This is indeed true. The most important things that the public needs to come to understand are that free-market capitalism is a force for good, not evil, and that the Federal Reserve System is antithetical to free-market capitalism. Also, people must remember that government is inherently evil. As George Washington said, “Government is not reason; it is not eloquent; it is force. Like fire, it is a dangerous servant and a fearful master." One way I am trying to get this into the public consciousness is by distributing Campaign for Liberty pamphlets and End the Fed DVDs. I am in the process of burning a ton of copies to hand out at one of the End the Fed protests on 4/25/09. For now, and while we still can, it is imperative that all of us do what we can to get this information to the masses so that when the time comes, people are better informed to change our political and economic system in the Rothbardian direction.