SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Pastimes : Austrian Economics, a lens on everyday reality
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: eddieww who wrote (46)12/11/2001 6:27:49 PM
From: Don Lloyd1 Recommendation   of 445
 
eddieww -

...Consider the possibility that unfettered laizez-faire capitalism tends to concentrate wealth to the detriment of society, and that society, as a body-politic, recognizes that too great a concentration stifles progress and therefor places restraints on such concentration through a political process - government intervention. Such governmental restraints on the market exist in all advanced, industrialized societies today. I question, therefor, whether all of these societies are misguided or whether there exist very good reasons for such restraints....

History makes a poor guide for the evaluation of free market capitalism because it has never been allowed to exist. The operative market in history is the market for political power and control, both of the body and the mind.

For free market capitalism to flourish, real private property and enforceable contracts must both exist and be defended, and governments, both domestic and foreign must be restrained and limited. The last three centuries have partially broken with the history of the previous sixty centuries of abject poverty, war, famine and disease only because geographical expansion into the new world outran the ability of the inbred European monarchies to effectively extend or even maintain their control. Only a persistent division of labor economy combined with the allocation efficiency of free market prices can sufficiently increase and harness human productivity so as to raise the standard of living above the zero sum subsistence level for more than the elite few.

Regards, Don
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News