Socialism depends upon and presupposes material achievements which socialism itself can never create. Socialism is operative only in wealth situations brought about by modes of production other than its own. Socialism takes and redistributes wealth, but it is utterly incapable of creating wealth.
– Leonard Read
Capitalists act as a disciplined group preying upon workers and consumers only if they succeed in persuading the state to orchestrate and oversee such predations. Tariffs, occupational licensing, and other state interventions – typically cheered naively by “Progressives” as “victories” for the People – are all too often the means used by producer groups to steal what does not belong to them.
Note: I use the term “capitalism” loosely, since by definition, once business owners begin seeking this type of privilege, they are no longer acting as capitalists, but as cronies.
Nobody likes being told there is no such thing as a free lunch. But it is incredibly important. Unless someone reminds the public that free lunches are illusory, they may never figure out how to get a meal in the first place.
Alex Salter, Economist-Man and His Never-Ending Battle
An outstanding explanation of “rent seeking,” and how it destroys wealth and opportunity.
Why Did America Fight the Vietnam War?
Rapists, thugs, and thieves improve their lives by using coercion or threats of coercion to reduce the range of options available to others. Civilized, peaceful, and productive people improve their lives by using commerce to expand the range of options available to others. Neither the raw facts of the matter nor the ethics of these alternative courses of action are altered one bit if the rapists, thugs, and thieves hire well-dressed agents to carry out their schemes and rename these plunderous schemes “trade policy.”
– Don Boudreaux
I’ve been thinking this lately. I’m surprised to learn many things like this.
Considering what is indeed the historically unprecedented great enrichment that market economies have created for the masses, to complain about today’s differences in monetary incomes or wealth is akin to complaining about the color of a rescue ship that has just saved the lives of hundreds of people who were on the verge of drowning at sea.
– Don Boudreaux
Bogged at Cafe Hayek
What happens when intelligence agencies go to war with each other and don’t tell the rest of us? I think there’s something going on between the US and Russia that the public is just seeing pieces of. We have no idea why, or where it will go next, and can only speculate.
Who is Publishing NSA and CIA Secrets, and Why? https://www.schneier.com/blog/archives/2017/05/who_is_publishi.html