Posted tagged ‘Capitalism’

Must Reads For The Week 4/6/19

April 9, 2019

“The coordination of men’s activities through central planning or through voluntary cooperation are roads going in very different directions, the first to serfdom and poverty, the second to freedom and plenty.” – F. A. Hayek

 

Capitalism (aka) Self-Ownership Is The Only Moral Economic System, by Gary Galles, at mises.org. Private property rights and voluntary exchange are the foundation of free market capitalism. Property rights means you own what you produce. Voluntary exchange means each individual can exchange what he produces for what another individual produces under the terms which they mutually agree, with no intervention from third parties  Excerpt from the article:

“As Ludwig von Mises explained it, private property is the basis for “joint action and cooperation in which each participant sees the other partner’s success as a means for the attainment of his own,” in sharp contrast to any “us versus them” zero- or negative-sum view of social interaction which treats someone’s gains as others’ losses. In capitalism (which is actually inconsistent with the government created or enabled crony capitalism we see all around us), even those who would be tyrants, if given the opportunity, must focus their efforts on providing willing service to others to induce their voluntary cooperation. In contrast, the drive for power that animates these Democrat Presidential hopefuls who condemn a capitalism they plainly don’t comprehend would increasingly turn others into their unwilling servants.

The Socialist Fantasy, by John Stossel, at townhall.com. Socialism is government ownership of the means of production. But what do you call a system where government, although allowing property rights, controls what you can do with what you produce through rules, regulations and confiscation via taxation? Crony capitalism or crony socialism. We do not have free market capitalism in the US right now. We have a hampered market. But Government central planners don’t have to own the means of production to wreck an economy. All they have to do is increase their interference, and eventually a country’s standard of living starts to decrease. Even though government intervention isn’t the definition of socialism, government intervention is the road which leads to”serfdom and poverty”.

How Countries Fall Into The Welfare Trap, by Antony P. Mueller, at mises.org. Excerpt from the article:

“People like the welfare state because they suppose that it comes at no costs and provides many benefits. If people knew how much the present consumption of social benefits entails less prosperity in the future, the population would have a critical attitude towards the welfare state and politicians would have a harder time selling their fraud. Just as a society that ranks security over liberty loses both, a society that attributes a higher value to social benefits than to wealth creation ends up with neither wealth nor benefits.”

Liberalism’s Last Stand – Brexit, by Tom Luongo, at tomluongo.me.    Brexit is a modern-day version of the American Revolution. Only this time it is the British people who don’t want to take orders from the bureaucrats in the European Union. Adding another layer of bureaucratic intervention on top of what exists already in the British government was a bridge too far. The people have spoken. But the bureaucrats in Brussels don’t want to give up their power. Just like King George didn’t want to give up his power over the colonies. Excerpt from the article:

“Now with the European Union facing a populist uprising across the continent they have reached the turning point with Brexit. And the conundrum is enormous.”

“Brexit is the single most important political event of this century……So, paying close attention to it is important. That’s why it has so divided people. It represents an existential threat to the inevitability of modern liberalism. The European Union is the symbol of that inevitability. Because once that inevitability is breached the EU will begin to unravel before our eyes.”

Electoral College: Why We Must Decentralize Democracy, by Ryan McMaken, at mises.org. The articles above show us why we need the Electoral College. Power needs to be taken away from government and dispersed to the individual. Politicians and bureaucrats always want more power. The history of the 20th century shows what happens when power is centralized. Stalin, Hitler, Mao, Pol Pot, Castro! Oh that’s right….it can’t happen here. The left is afraid of Trump abusing power just as the right was afraid of Obama abusing power. Shouldn’t both sides agree that the government has too much power if an abuse of power by the person holding the seat could harm them.

The Recycling Movement Fails, by Michael Shedlock, at lewrockwell.com.  After decades of being guilt tripped into recycling, we are finding out that it is too costly.

Goodbye To The Internet: Interference By Governments Is Already Here, at zerohedge.com. Excerpt from the article:

“Government regulation combined with corporate social media self-censorship means that the user of the service will not know what he or she is missing because it will not be there. And once the freedom to share information without restraint is gone it will never return. On balance, free speech is intrinsically far more important than any satisfaction that might come from government intrusion to make the internet less an enabler of violence. If history teaches us anything, it is that the diminishing of one basic right will rapidly lead to the loss of others and there is no freedom more fundamental than the ability to say or write whatever one chooses, wherever and whenever one seeks to do so.

3 Reasons Why Facebook’s Zuckerberg Wants More Government Regulation, by Ryan McMaken, at mises.org. The three reasons are 1) Regulations will give Facebook more monopoly power. 2) Zuckerberg and Facebook will help write the new rules. 3) Regulations will limit Facebook’s legal exposure. Big business wants government regulation because regulations make it more difficult for start-up companies to succeed. When a business gets big, it no longer supports competition. It seeks monopoly power. Which can only be granted by Big Government.

The Air Bag Body Count Upticks – And Will Again, by Eric Peters, at ericpetersautos.com. Government central planners work for their own self interest. Excerpt from the article:

“There are hundreds of thousands of cars in circulation with air bags Uncle knows are defective; knows have killed and so – great leap of logic – are probably going to kill again.”

“Yet Uncle does not hurl a fatwa granting permission for the people who were forced by Uncle to buy these air bags to even temporarily disable them until they can be replaced with new air bags that may also kill them, but which at least aren’t known to be defective.”

“But remember when VW was forced to park vast fleets of perfectly safe – and clean – diesel-powered cars (the entire 2016 model year run) on account of “cheating” on EPA emissions certification tests. These cars never hurt anyone – or even the environment – but Uncle went ballistic. Because he’d been hurt.

States Sue Trump Administration Over Changes To Michelle Obama’s School Lunch Standards, by Jana J. Pruet, at theblaze.com. Why didn’t they sue when Michelle Obama interfered with school lunch standards in the first place?

The Latest Scheme To Turn Gun Owners Into Criminals, at zerohedge.com. The gun grabbers never give up.

Resisting Born-Alive Bill, Democrats Are Desperate To Hide Truth About Abortion, by Georgi Boorman, at thefederalist.com. If a blob of tissue is born alive, is it still considered a blob of tissue or is it a baby? Here is the best line from the article. “Legal abortion is fundamentally a mother’s entitlement to kill her child….They actually believe that abortion is the right to a dead baby.”

Doctors Are Now Giving Hormone Treatments To Children As young As 8 Who ‘Identify’ As Transgender, by Sara Taylor, at theblaze.com. What about the oath…First do no harm! This is child abuse. An 8 year old doesn’t have the mental capacity to understand what transgender even means.

Ex-Senate Employee Pleads Guilty to Theft Of Personal Data, at seattletimes.com. Petty tyrants use intimidation to get what they want.

Jury Rejects Harry Reid’s Lawsuit Against Fitness Band Maker He Blamed For Injuries, at cbsnews.com. Is anyone surprised that Harry Reid would sue for damages?

Actual Putin Puppets: Moscow Pitting Climate Activists Against American Energy Industry, at zerohedge.com. The USSR backed the peace movement during the cold war. Putin is a former KGB agent. Therefore the Russian government backed the anti-fracking movement. I’m shocked! Russian collusion?

Mueller’s Record Of Framing Innocent People To Protect The Guilty, at zerohedge.com. This article tells of the abuses of power by unelected bureaucrats (deep state). This is an eye opening article.

With Mueller Hopes Gone, So Goes Progressive Unity, by Victor Davis Hanson, at amgretness.com. Victor Davis Hanson sums up the Mueller investigation. Great read.

 

SATIRICAL HEADLINES

Venezuela Praised For Achieving World’s First Zero-Hour Work Week, at babylonbee.com.

Alexandria Ocasio-Cortez’s Economics Degree Recalled, at babylonbee.com.

Jussie Smollett Receives Prestigious NAACP Award For His Work Creating Jobs For Nigerian-Americans, at babylonbee.com.

Unsure What ‘Heartbeat’ Is, Hollywood Actors Come Out Against Heartbeat Bill Just To Be Safe, at babylonbee.com.

Man Arrested While Attempting To Smuggle Dhick-Fil-A Sandwich Into San Antonio Airport, at babylonbee.com.

Moved By Sight Of Homeless Man Asking For Food, Local Christian Prays Light Would Turn Green, at babylonbee.com.

Trump: ‘Any Shooting Actually Inspired By Me would Have Left Thousands Dead, at theonion.com.

 

CARTOONS

From theburningplatform (more classics here)

Political Cartoons by Michael Ramirez

Political Cartoons by Gary Varvel

 

Political Cartoons by Tom Stiglich

Political Cartoons by Michael Ramirez

Political Cartoons by Chip Bok

Political Cartoons by Gary Varvel

Political Cartoons by Pat Cross

 

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The Model For Obama And The Pope? North Korea

October 2, 2015

The Burning Platform (click here) shows us that the Pope and President Obama would consider North Korea a perfect model for every nation to follow if we want to stop global warming. Electrical usage in North Korea has decreased since 1980, while South Korea’s electrical usage since 1980 is 14 times greater. We all know that electric power is produced by carbon based fuels, which emit CO2, which is used by plants along with water and sun light to make sugar for the plants and oxygen for us. Wait a second! Does using electricity produce oxygen?

 

DO AS I SAY, NOT AS I DO

I have a question for the Pope and the President. If everyone followed your examples and spent their days pontificating or bloviating about poverty; Who would produce all the stuff that you want us to give to the down trodden? It’s hard to give something away that doesn’t exist. Production comes before consumption. The Pope should know this from reading Genesis 4:19 “By the sweat of your brow you shall eat bread.” And President Obama should know this from reading Karl Marx, “From each according to his abilities, to each according to his needs“.

The people who rail against capitalism, do it under all the comforts that capitalism has produced. They are ignorant of the processes that allows them to do what they do, because they’re born in the middle of the story.

Political Cartoons by Nate Beeler

Here is a great article by Mark J. Perry at Carpe Diem Blog titled What Four Previous Popes Had To Say About Socialism. Needless to say they didn’t give socialism glowing reviews.

Related ArticleWhat Comes First Production Or Consumption, at austrianaddict.com.

Related ArticleWe’re All Born In The Middle Of The Story, at austrianaddict.com.

Pope: “Capitalism Lacks Morals And Promotes Selfish Behavior”

September 24, 2015

The Pope will address a joint session of congress Thursday morning. Except for about 50 of the members, all will be in agreement with the Pope’s understanding and dislike of capitalism. Our Congressman and Senator’s anti-capitalist politics comes from being educated in anti-capitalist universities. The Peronist Roots of Pope Francis are the reason for his anti-capitalism politics.

BACKGROUND

Pope Francis was born in Buenos Aires Argentina in 1936. Juan Peron was the President of Argentina from 46-55 and gave his political movement the name Peronism. Peronism rejects the extremes of capitalism and communism and is considered a third way. The Justicalist Party is the party of peronism. Justicalist comes from the Spanish words justicia and social, the English translation being social justice. The Pope’s formative years were during the Peron era. Of course Peronism didn’t go away when Juan Peron was deposed in 1955, the ideology is still alive today. You can read more by clicking on the words above.

SOME DEFINITIONS

Lets start with a few definitions before we talk about the Popes comments about capitalism. Capitalism means private ownership of the means of production. Socialism means state ownership of the means of production. In a capitalist economy decision-making power over the use of capital is dispersed among the people. In a socialist economy decision-making power over the use of capital is concentrated in one person of a small group of people.

Communism and Nazism are examples of state ownership of the means of production. The U.S., as founded, was an example of private ownership of the means of production. Do you think that either Chinese communism or U.S. capitalism, as they exist today, fit the definitions of socialism or capitalism? No! As constituted today they are third ways just like Peronism. Almost all countries are middle grounds moving toward or away from capitalism or socialism. The middle ground between capitalism and socialism is chaotic, just look at the world today.

LETS LOOK AT THE POPES COMMENTS ABOUT CAPITALISM

Pope Francis: “Capitalism lacks morals and promotes selfish behavior.”

Capitalism lacks morals?

Only individuals can be moral. Capitalism is an economic system that is neither moral nor immoral. It’s analogous to Governments. Governments aren’t moral or immoral, only individuals in government can be moral or immoral. The Pope should understand this because Christianity teaches individual salvation. Each individual is reconciled to God through Christ. There is no group salvation.

 

Capitalism promotes selfish behavior?

Every individual by nature is selfish. Does capitalism incentivize {promote} selfish behavior? Since we don’t live in the Garden of Eden (we messed that sweet deal up didn’t we?) where everything exists in abundance, where do all the things we need and want come from? They have to be produced. To get what you want, you can produce it yourself, exchange what you have produced for it, its owner can give it to you as a gift, you can steal it from its owner, or you can have someone else steal it and give it to you in exchange for something they want {your vote}.

In a free market capitalist system you must first produce before you can consume. Capitalism incentivizes production and exchange. In order for you to get what you want from another person you must first produce something that they want and offer it in exchange. You have to give before you receive. Isn’t this the golden rule of Christianity. How can the Pope not see this?

I think the Pope looks at our current middle ground between capitalism and socialism and thinks this is true capitalism. He, like many individuals in positions of power think this way. Their ignorance in and of itself, isn’t a bad thing. It only becomes bad when they enact policies in this state of ignorance. These policies influence and affect the lives of billions of people.

Here is the difference between capitalism and socialism. In a capitalist economic system, the means of production are owned by millions of people who are all selfish. The damage selfish people can do in this system is limited, first because decisions about capital are dispersed among many individuals, and second an individual can only be selfish for a while before he goes broke. In a socialist economy, where the means of production are owned by the state, a small group of leaders make decisions about the means of production. These people at the top haven’t traded in their pitch forks and horns for a halo and wings. The damage these selfish people can do in this system is unlimited, first because the decisions are one size fits all and are disastrous if wrong, and second because they can remain selfish in their pursuits no matter the results.

The Pope needs to stick to his ordained mission of mercy and reconciliation and stay away from economics until he reads Mises, Hayek and Rothbard. Until he does, he is speaking from a position of ignorance about economics. The Pope is not alone in his ignorance. He will be speaking to a group of people today who are in the same state of ignorance about economics as he is.

Watch this short video I posted last week titled, Is Capitalism Moral, by Walter E. Williams, it is informative.

Here are two great articles about the Pope’s ideology.

The Left Has Its Pope, by Thomas Sowell, at jewishworldreview.com.

Pope Francis’ Fact-Free Flamboyance, by George Will, at jewishworldreview.com.

Walter E. Williams: Is Capitalism Moral? via Prager University

September 15, 2015

It is amazing how Walter E. Williams can put so much information about free market capitalism into this five minute video. The amount of insight per word is off the charts. You are going to want to watch this more than once. Thanks to Prager University for this.

Some excerpts from the video:

“The free market calls for voluntary actions between individuals. There’s no coercion.”

“A free market system can only work if there is limited government. Limited government means you and I decide which businesses survive.”

“In a free market the ambition and voluntary effort of citizens not the government drives the economy. That is, people to the best of their ability shaping their own destiny.”

Related ArticleWalter E. Williams: Voluntary vs Involuntary Exchange, or Seduction vs. Rape, at austrianaddict.com.

Related ArticleWalter E. Williams: The Free Market Is Not Allowed To Work, at austrianaddict.com.

 

Must Reads For The Week 2/1/14

February 1, 2014
The pen is mightier than the sword...

The pen is mightier than the sword… (Photo credit: mbshane)

In Defense Of The Mises Institute, at economicpolicyjournal.com. When the New York Times is trying to fudge the truth, ( lie), about the Austrian school of economics, you know you are making progress in educating people about the economic reality of Government intervention into the economy. Keep spreading economic truth and let it work its magic.

Thanks To Capitalism All These Things Fit Into Your Pocket, at Turning Point USA. Thank you Libertarian Girl for sharing this. Look at the photo and think of the cost of all the devices you would need to replace your smart phone. The good news is Government hasn’t found a way to intervene in the technology market and screw it up. Technology changes quicker than the Government can react. Will the technology side of our hampered health care system progress farther and faster than Obamacare can drag it backward?

Video: Free Americans Exercising Their Rights, at libertypenblog.blogspot.com. This is part of the push back by Americans against the growing police state, at the federal, state and local levels.. The rattle of the rattle snake is the warning to the intruder that it is too close, the bite comes when the intruder doesn’t heed the warning. This video is the rattle of the rattle snake, lets hope Government understands these warnings so the  bite never has to happen.

Video: Fox News- NSA Is Illegal and Ineffective, at libertypenblog.blogspot.com. Judge Napolitano’s segment on this video is really good. This is just another reason why people are saying enough, you’ve gone too far.

LA Cop Punches Special Needs Girl, at getholistichealth.com, and Cop Goes Psycho Waiting For McDonald’s, Pulls A Gun On Teen In Drive Thru, at thelibertarianrepublic.com. Thank you Libertas Found for posting these short videos. If we people who have power over you can’t be trusted at the local level, why would you trust people with power at the Federal level?

Video: Get Konnected With The Kronies Action Figures, at kronies.com. Creative spoof of a commercial for krony kapitalist action figures.

76,000 Pounds Of Ribs Burn In Truck Fire, Smell Wonderful, by Tammy Bruce, at tammybruce.com. Nothing smells better than meat cooking over an open flame.

Ted Cruz ‘s Comments Edited Out Of “Face The Nation”, by Shifra, at tammybruce.com. Media bias isn’t shocking anymore, it’s just the reality we live under. But in the information age it’s less of a problem.

Government Schools Are Dinosaurs, by Chris Rossini, at economicpolicyjournal.com. The information age is the biggest threat to the brain washing monopoly Government schools have enjoyed. You don’t have to set one foot in a school or college to receive an education. The bigger point that Gary Vaynerchuk makes in this short video is how technology is going to bring about a big cultural shift that will be difficult for us to see because we are living inside of it. This shift will give power back to the individual with a corresponding decrease in the power of Government. We are living in interesting times.

Romney Care Result: It Takes More Than Two Months To See A Specialist In Boston, at economicpolicyjournal.com. When the Government tries to make something more affordable, the result is a longer wait for worse service at a higher price. Isn’t that the exact opposite of how it works in the free market?

Walter E. Williams; Free Market Capitalism Produces A Higher Standard Of Living For Everyone.

December 25, 2012

Even though it is not planned by any particular person or group of people, the outcome of the free market process can be seen all around us in the incredible standard of living we enjoy. When our country’s main health problem is obesity and not malnutrition, and it seems that everyone owns a cell phone, we are rather well off as a country.

The main problem we face now and moving forward is, will we allow free market capitalism to continue to increase our standard of living, or because we don’t like how wealth is “distributed” as a result of this process, will we (more…)