We live in an era in which few can even conceive of a world without the welfare state. Who would care for the old? How would people provide for their medical needs? What would happen to the disadvantaged and needy that fell upon hard times? In fact, there were free market solutions and non-government answers to these questions long before the modern Big Government Welfare State.
Author: Richard Ebeling
A recently released report on the degree of confidence that Americans have in the country’s leading political and economic institutions showed that few of these institutions are held in high regard by the public.
We live in a time, as, indeed, mankind has lived already for along time, in which economic delusions, political demagoguery, and ideological deceptions abound due to the power lusting of those who wish to gain control of government to serve their own ends at others’ expense.
One of the great myths about the capitalist system is the presumption that businessmen make profits at the expense of the consumers and workers in society. Nothing could be further from the truth.
A little more than seventy years ago, on March 10, 1944, there appeared in Great Britain one of the most amazing and influential political books of the twentieth century, The Road to Serfdom by Friedrich A. Hayek, which forewarned of socialist trends in Britain and America that ran the danger of leading to tyranny if taken to their logical conclusions.
Seventy years ago, during the week of February 4-11, 1945, the most momentous conference of the Second World War was held at Yalta in the Crimea between Franklin D. Roosevelt, Winston Churchill and Joseph Stalin. Their decisions have affected much of the world ever since.
The European Central Bank has announced its intention to create out of thin air over one trillion new Euros from March 2015 to September 2016. The rationale, the monetary central planners say, is to prevent price deflation and “stimulate” the European economy into prosperity.
The only problem with their plan is that their concern about “deflation” is a misguided fear, and printing money can never serve as a long-term solution to bring about sustainable economic growth and prosperity
The recent brutal events in France have reminded us how small the world is that we all share. Violence and conflicts that have their origin in one part of the globe shows itself in another part of our planet. And mass media immediately shares those events to the rest of us, no matter where we are.
With the beginning of 2015, what might be a “New Year’s resolution” for a friend of freedom? I would suggest that one answer is for each of us to do our best to become “lights of liberty” that will attract others to the cause of freedom and the free society.
As a new year begins, it is easy to consider that the prospects for freedom in America and in many other parts of the world to seem dim. After all, government continues to grow bigger and more intrusive, along with tax burdens that siphon off vast amounts of private wealth.
This is the political Santa who delivers subsidies of various sorts to farmers or “alternative energy” manufacturers. The Santa who redistributes vast sums of money for educational expenditures, or public housing, welfare and food stamps, or government defense contracts, and even “bridges to nowhere.”
Forty years ago, on December 11, 1974, Austrian economist, Friedrich A. Hayek, formally received that year’s Nobel Prize in Economics at the official ceremonies in Stockholm, Sweden. He delivered a lecture called, “The Pretense of Knowledge,” which forcefully challenged all those who believe that government has the wisdom or ability to successfully plan the economic affairs of society.
This November marks the 25th anniversary of the fall of the Berlin Wall. On November 9, 1989, as the shaky East German communist government resigned, the Berlin Wall came tumbling down. Large crowds formed on both sides of the Wall. East and West Berliners climbed on top, and then people began using sledgehammers and pickaxes to cut holes in it. People started to move back and forth through the Wall, capturing the spirit of a freedom to move without political barriers standing in the way.
Why is it that government grows in size and scope, and is so difficult to stop or reverse? Political economist, Gordon Tullock, who passed away on November 3, 2014 at the age of 92, was a path-breaker is explaining how and why big government keeps getting bigger.
October 25th marked the 247th birthday of one of the greatest voices of liberty, the French political philosopher of freedom, Benjamin Constant. He may not be a household name to friends of freedom today, but he should be. He wrote one of the most principled and consistent defenses of individual liberty and freedom of enterprise to appear in the last two hundred years, the Principles of Politics Applied to All Governments (1815).
Over a scholarly career that has spanned a half a century, Kirzner has enriched our understanding of the theory of the competitive process, the role of the entrepreneur in bringing about market coordination and innovation, the nature of capital and interest, the dangers resulting from the regulated economy, and the importance of individual freedom for the open-ended creativity that enhances the general human condition.
Suppose that there was a button in front of you that if you pushed it would, in one instant, abolish all the governmental controls and regulations on the U.S. economy. Would you push that button, and transform America into a society of free men associating with each other on the basis of voluntary exchange, with government limited to protection of life, liberty and honestly acquired property?
Eighty years ago, in the autumn of 1934, there appeared in English one of the most important books on money and inflation penned in the twentieth century, The Theory of Money and Creditby the Austrian economist, Ludwig von Mises. Even eight decades later, it still offers the clearest analysis and understanding of booms and busts, inflations and depressions.