Capitalism In One Lesson in less than 15 minutes, by Nielsio


This time I won’t say much. I’ll just let this video speak for real capitalism, the antithesis of socialism.

I will just point out that the section in this video that mentions Smith, Mises, Hayek, Rand and Friedman, I do not fully agree. I have studied much of Hayek’s writings and at this time find no truth in the statement about his advocacy of the state controlling anything. Also, Mises’s writings do not fully lend to this opinion so far as I have learned either. Both Hayek and Mises were ardently against state control and manipulation of the free market and both had written on this throughout their lives. I see no evidence YET, that supports this point of view. But otherwise the video is very well laid out in support of capitalism.

I will also add that though I agree with the example the video uses on democracy, It behooves me to point out that it is for this reason that America was originally established as a representative republic. Why the author of this video does not point this out is incredible to me.

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Laissez-Faire Hallucinations


I suppose that what I am doing here is sharpening laissez-faire’s definition in regards to free market economy. This I find necessary largely due to the plethora of arguments on the subject that I have encountered within various books and articles that have either been based on pure economics or have simply used examples taken from the study of the subject of economics; that many of these writings misrepresent laissez-fair market theory.

For those who may have become confused by a tangled web of ambiguous misinformation on the study of economics served up by the daily news, T.V. news “programming”, irresponsible educators, apologist and propagandist historians, enthusiastic socialist politicians, enthusiastic war mongering politicians, Republicans and Democrats alike, or even idiotic op-ed articles (and you may consider this one of those, that’s O.K.), I just want to clear the air a little.

If you disagree, that’s O.K. too, I’m just hoping you’ll at least return to the endless social, political and economic arguments that are so prevalent today with a fresh perspective of what is actually happening when the argument for or against laissez-faire economics comes up, that many of these arguments defy logic.

Laissez-faire :

–noun

1.

the theory or system of government that upholds the autonomous character of the economic order, believing that government should intervene as little as possible in economic affairs.
2.

the practice or doctrine of noninterference in the affairs of others, especially with reference to individual conduct or freedom of action.

I present this definition as a way to illustrate to all the hobbyist economics students, including myself, as well as the would-be future and current economists who may consider writing on the subject of economics, that laissez-faire economic theory is and has been nothing more than theory and not truly in practice by American government, at least not for more than a century. And when the American government actually attempted to adhere laissez-faire policies to the fundamental method of governing its economic affairs, it was very short-lived. It’s simple, governments intrude, unless kept under control by the governed. This is obviously no easy task but the 20th century ought provide enough evidence of government intervention, regulation, protectionism, and monopoly at a pernicious detriment to the economic affairs of the entire world. Thus the 21st century is proving an ever-deepening plunge into the socialist abyss.

Technically speaking, we have had a socialist system in place since the Social Security System’s inception set in motion in 1935 by the Social Security Act. With so much information supporting this fact, I fail to understand how it is that so many are in denial of  this, but whatever the case, it is true and America as well as the entire world has not been the same since, from a social, political and economic perspective. What led America to this deteriorating system requires a much deeper study of its roots within the 16th amendment as well as the Federal Reserve Act. But we cannot ignore the most important facet in destructive role played by the 14th amendment and how it created a whole new system paving the road for such abilities of this government to usurp and destroy; I’ll leave that to you to study on further if you should choose. I want to keep this article simple and focused.

With such deteriorating socialist acts still in place, it is strange to me to see so much discourse on the subject of so-called laissez-faire economic policy. But, with the American economic system inundated in a myriad of mixed policies and statutes which pervert the very laws of economics and liberty, I suppose I expect confusion to some degree. Or is it pure denial? I’ll leave that for the politicians and the voters to continue fighting about.

For me I’ll just stick with what I know and do whatever I can to shed what light I can and hope for the best for all of humanity.  I’ll even concede defeat on any subject I’m wrong about, that’s more than I can say for our leaders. Though one can only hope political, corporate and military leaders experience some enlightenment and change their destructive ways. (That was a joke) Ultimately the average people are more than likely going to have to force the change by their actions…human action.

I would rather argue the case for liberty and free will and try to not be distracted. To attempt to avoid the argument for liberty and free will have its value detracted by the divisive tendrils of deception.

On the subject of money, please see one of my other articles “Earning Good money”. Also this one on government intervention and protectionism, “Pumping gas & politicians” .

I will also humbly refer you to this article at the Von Mises webpage. “The Myth that Laissez Faire Is Responsible for Our Present Crisis”, is an even deeper analysis on the subject of the laissez-fair blame game going on with our the current economic crisis. I discovered it while doing research for this article, it articulates further with deeper research points and current examples on this subject, enjoy.