Posted tagged ‘Marxism’

Milton Friedman Wins The Democrat Debate Against Hillary Clinton And Bernie Sanders

October 15, 2015

The first Democrat debate between Bernie Sanders and Hillary Clinton seemed like a debate between Karl Marx and Fidel Castro. Sanders truly believes that Marxist socialism will work, and Hillary just uses the Marxist rhetoric to win a position of power. The real winner in the debate was Milton Friedman who, in the video below, knocks Bernie and Hillary’s free lunch rhetoric out of the park.

SERFDOM OR FREEDOM

Bernie and Hillary tried to out do each other on what they will give away if elected. But, since Government doesn’t produce anything. It can’t give anything away unless politicians and bureaucrats try one or all of the steps listed below.

1)  They can force the person who produces the good or service to provide it for free.

2) They can confiscate money from citizens (taxes) to pay the people who produce the good or service.

3) If they can’t steal enough, they have to borrow money to pay the people who produce the good or service.

4) If they can’t do #2 or #3, they have to get the Federal reserve to print money to pay the people who produce the good or service.

Our Government has spent a little over a half a trillion (500 billion) dollars more than it has taken in taxes each of the last 3 years. These three years follow a three-year period in which it spent over a trillion more than it took in taxes in each year. So as you can see we have exhausted step 2 and are at full speed on steps 3 and 4.

Since no one will work for nothing when they have other options, step one is difficult to implement. Step two has its limits as revenue will start to decrease if taxes are too high. Step 3 syphons money from capital markets and moves it into consumption activities (which is what government spending is). If Government borrows too much, interest rates will go up, the cost of the debt will increase, and Government will have a hard time selling its debt. At this point step 4 will be implemented. The Federal Reserve will step in and buy U.S. T-Bills with electronically printed counterfeit money. Step four is how the Government can fund itself if 2 and 3 are maxed out.

These steps are not a part of a free society, they happen in a country that is heading toward a centrally planned Marxist society. If the government doesn’t own the means of production out right, it uses its force to control the privately owned means of production. This is where we are, and I think you can see the direction we are headed unless ‘we the people’ turn this around.

Related ArticleMilton Friedman, Moving Toward Serfdom, at austrianaddict.com

Related ArticleMilton Friedman: Market Failure vs. Government Failure. Which Has A Higher Cost? at austrianaddict.com.

Related ArticleThe Essential HAYEK. at austrianaddict.com.

 

Minimum Wage Laws Create Unemployment.

February 25, 2013
Economic theory suggests an excessive minimum ...

Economic theory suggests an excessive minimum wage may raise unemployment as it fixes a price above demand for labour, although a reasonable minimum wage enhances growth because when poorer workers have more to spend it stimulates effective aggregate demand for goods and services. (Photo credit: Wikipedia) Read about what is in bold print below.

MINIMUM WAGE RHETORIC

In the State of the Union address, the President called for the minimum wage to be raised to $9 an hour. Politicians who propose minimum wage laws are trying to gain the moral high ground on the “morally inferior” people who oppose these laws, they are not trying to help low wage low skill workers. These politicians think that making a law mandating employers pay their employees higher wages, will fool the public into thinking they are morally superior to their opponents. They prey on the emotion of the public and hope the public will not analyse what happens when wages are set higher than they would be under unhampered market conditions. Unfortunately the consequences of the legislation turn out to be different from the utopian promises that the public, and the media, so desperately want to believe can be delivered.

MINIMUM WAGE REALITY

Labor is supplied on the market like any other good, but the public has been brainwashed by Marxist propaganda to believe that an individuals labor is special, and should not be subject to the morally neutral forces of supply and demand. (more…)

Thomas Sowell Used To Be A Marxist?

November 8, 2012

Thomas Sowell talks about bureaucracies having no desire to solve a problem, because the existence of the problem is more important for their survival. Finding a solution that ends the problem also ends any need for the bureaucracy. Bureaucrats and Politicians don’t turn in their pitch fork and horns for a halo and wings when they get appointed or elected. Their greed for money is exchanged for a greed for power.