The only genuine, long-term solution is to force the state to retrench and allow the essential characteristics of free enterprise to reassert themselves in the market, especially in the realm of market prices and private property. There is no middle way. To plan otherwise is to plan for chaos.
In the 19th Century and the beginning of the 20th, the rise of big business on the free market could not create monopolies and cartels. Only government could do that. Government tried. Government failed.
The Spanish and Portuguese were not very effective about colonizing the New World, despite finding gold and silver and claiming land. The London Company arrived about 1611 with indentured servants. Life expectancy was as young as twenty-one, although food supplies were better in the New World. Land was cheap and available to most immigrants.
The study of U.S. history seen through the lens of economic theory teaches us lessons like: (1) Why did America do so well economically?, (2) Why do we have the problems of war, terrorism, and immigration?, (3) What results from the growth of government?, ...
Why did people move to the new world? The benefits outweighed the costs. The explorers were driven by the economic philosophy of mercantilism. Government and business partnered to build a nation state. Money was thought to be wealth, but it is not. Government ships, soldiers, and subsidies gave the power of kings behind businesses.
Pages 26-29 in the text, as narrated by Floy Lilley. From Part 1 of Conceived in Liberty, Volume IV: “The War Begins.”
Pages 340-349 in the text, as narrated by Floy Lilley.
Pages 40-42 in the text, as narrated by Floy Lilley. From Part 1 of Conceived in Liberty, Volume IV: “The War Begins.”
Pages 21-22 in the text, as narrated by Floy Lilley. From Part 1 of Conceived in Liberty, Volume IV: “The War Begins.”
Pages 53-55 in the text, as narrated by Floy Lilley. From Part 1 of Conceived in Liberty, Volume IV: “The War Begins.”
