Discussion in 'Economy' started by Kevin_Kennedy, May 13, 2009.
Never-Ending Government Lies About Markets - Thomas J. DiLorenzo - Mises Institute
Leading up to the Great Depression, we had boom & busts every 10 years. So we put regulations into place, and we had 50 years of steady/solid/stable growth.
Then Reagan got into office, and started brainwashing you that government was the problem, not the solution. He was half right. Government in bed with Corporations is the problem.
So they started removing the regulations, and we got the S&L scandal in the 80's that McCain was implicated in. Then Enron exposed the fact that corporations were cooking their books.
And then the corporations all went bust and bankrupt but now the bankruptsy laws work in their favor. Now they just fuck their workers over when they go bankrupt. And part of the bankruptsy process is years of excessive CEO pay.
I not sure what Govt the authori is talking about. But the US Govt provides the worlds most powerful armed forces, law enforcement, and social services that keep the aged, poorest, and disable off the streets. Furhtermore it did not cause the current economic crises.
Which government is he talking about that does nothing but plunder resources and cause economic crises? The Nigerian Govt maybe? Not the US Government.
The purpose of government is not to plunder from those who are not running it. The purpose of government is for society to organize in a civilized manner.
50 years of stable growth meaning a Great Depression and 25% unemployment rate? Hardly. Freedom is the cure, not a dictator's whim.
Prior to the Great Depression, we had the Depression of 1921 (caused by inflationary policies of WWI), and that was resolved with laissez-faire within a years time (as opposed to Hoover's regulations which yielded a 15 year depression). Prior to that was the Panic of 1907, a heavily regulated financial market, allowed banks to collude to inflate the money supply, as if a Central bank was there all along. Prior to 1907, was the Panic of 1873, which was hardly that. 1873 to 1883 gave the greatest growth ever seen in the U.S. economy. It was just that the dollar was gaining tremendous value, and that was seen as bad by the elites.
Republicans are not any more freedom lovers than Democrats, if the last eight years of Keynesian bailouts and military-industrial subsidies and entitlement increases weren't proof enough.
It should be, but rarely is. They, instead, do the first (plundering) with the second as a reason. Many excuses were heard during the last eight years, and now with the new administration, listed below:
- Terrorists might attack us! We have to eavesdrop on everyone.
- Banks might fail and cause collateral damage. We must force people out of work to subsidize bankers. After all, they helped pay for my campaign!"
- 'Green' jobs are the wave of the future, apparently. Although, it does nothing to mitigate pollution, just merely transfers it to power plants. Thus, I must force people out of work to fulfill my pipe dream.
- Ethanol is the future. Forget the fact that everyone has to pay more for every single grocery item, since we're burning it in our cars, we must starve people for progression!
- Anything caused by force and government can be solved by force!"
In reality, I don't even agree with your second statement. Why must society be organized? As long as no one's life, liberty or property is being forcibly deprived, creative destruction is a good thing. An example is the introduction of the automobile. That destroyed the market for horse buggy manufacturers.. imagine if they got their way, and government prevented the progression of the automobile. Think how impoverished people would be for years to come, until it was reversed.
There is no doubt that governments are far from perfect and that corruption in government exists, but the alternative that you offer is FAR worse.
Freedom, without government moderation, would mean the freedom to enslave. It would mena freedom for the gangsters and thugs. Without government society would degenerate to barbarianism.
You only have to look at Yeltsin era Russia to see what a disaster free liberaterainsism is.
This whole economic crisis IS a product of too little regulation. You may not like that FACT, you may continue to live in your FANTASY world.
But you know, millions of Americans are out of jobs, millions are losing their homes, lives are being destroyed.
Excuse the rest of us if we're just a bit fed up with your CRAP!
How could you be fed up with our "crap?" You've not experienced our "crap."
The fact remains government has killed more people in the 20th century (100 million approximately) than any private gang or thugs. Both are equally reprehensible, but let's give credit where credit is due.
This whole economic crisis was caused because of too much regulation. 72,000 pages of financial regulations, and you claim there's too little? Are you joking? Rather than giving government the benefit of the doubt (as history has shown, that's led to the most ruthless dictatorships), we might want to thoroughly examine economics and what conditions can create a massive housing bubble: Easy credit. Huge tax credits for flipping homes. Regulations that force banks to issue credit to less than creditworthy people.
The only source of poverty has been government. Period. Quit trying to regress us to a economic system where we are subservient to government (be it a monarch, or an unrepresentative republic).
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