Although government oversight is often advocated as a solution to capitalist greed, avarice should instead be viewed as a reason to support free markets rather than economic centralization.
by Austin Raynor
A common objection to a free market is that, due to man’s inherent selfishness, economic outcomes result which are not morally acceptable. This objection finds its manifestation in specific claims ranging from the argument that landlords overcharge poor residents to the outrage over the greed of Wall Street bankers as the perceived cause of the financial collapse.
The typical proposed solution to this ostensible problem is increased government intervention. However, this “solution” fails to take into account the fact that those in power—elected officials, “czars,” bureaucrats, etc.—are motivated as much by self-interest as is the rest of the population.
Consider, for instance, the $1.1 trillion spending bill recently passed by Congress. The bill approves a 2% pay increase for all federal workers. This comes at a time when 17.2% of Americans are either unemployed, have searched for but have since given up on finding a job, or have taken a part-time job because they are unable to find full-time work. Further consider that federal compensation per person, on average, is twice that of people employed in the private sector.
The bill serves to verify the accuracy of the perception of 71 percent of Americans who, according to a recent Rasmussen poll, “believe the federal government has become a special interest group that looks out primarily for its own interests.”
James Buchanan, who won a Nobel Prize for his work in Public Choice Theory, referred to the Public Choice Theory’s description of public servants’ behavior as “politics without romance.” Buchanan helped to dispel the myth, still common among many, that bureaucrats and politicians are motivated by a desire to further the public good rather than by self-interested concerns.
The Public Choice Theory posits that, like everyone else, politicians are motivated primarily by self-interest. Buchanan’s theory explains the opposition of congressmen to term limits, the prevalence of pork spending, legislators’ willingness to raise their own pay even while the public suffers, and a variety of other selfish acts on the part of those foolishly believed by some to be acting in the public interest.
Trusting the government with unlimited powers results in nothing short of tyranny. Fear of oppression, rather than imbuing one with a naïve trust in government, should instead fill one with a love for the benefits of decentralization and capitalism. In a capitalist system, power is decentralized and depends on market preference—I can only hold power, for instance, by convincing you to purchase my product.
But in a centralized, monopolistic system maintained by force, the threat of oppression is far greater. To advocate giving greater responsibility to bureaucrats to negate the ill effects of greed reveals both a psychological and historical ignorance.
As famed Austrian economic F.A. Hayek pointed out, “What is called economic power, while it can be an instrument of coercion, is, in the hands of private individuals, never exclusive or complete power, never power over the whole life of a person. But centralized as an instrument of political power it creates a degree of dependence scarcely distinguishable from slavery.”
The 20th century provided us with prominent examples of socialism gone awry: the horrors of Hitler and Stalin alone should illustrate the dangers of an intrusive, overbearing government.
As Thomas Paine observed, “virtue is not hereditary.” Therefore, even if you trust the leaders in power today, to allow the creation of overly powerful governmental structures is to invite abuse by future leaders who may not share in your good intentions. By surrendering our freedoms today, we are laying the groundwork for the horrors of tyranny tomorrow.
As Thomas Jefferson noted, “Sometimes it is said that man cannot be trusted with the government of himself. Can he, then, be trusted with the government of others? Or have we found angels in the forms of kings to govern him? Let history be the answer to this question.”
Jefferson here touches on yet another negative, but telling, aspect of a socialist system: the immense hubris of its designers. The intellectuals and leaders of a socialist system believe that they know better than do the citizens; it is up to them, they believe, to act for the good of the individual even if it requires coercion.
Consider the health care reform bills currently making their way through Congress: they are supported by only 42% of Americans, yet Democratic leaders continue to proclaim how the legislation will be in everyone’s best interests. Legislators insist on managing our medical care, our education, our retirement—the list goes on. The socialist designer believes that he knows better how to run my life than I do.
As Adam Smith pointed out, “[t]he statesman who should attempt to direct private people in what manner they ought to employ their capital, would not only load himself with a most unnecessary attention, but assume an authority which could be safely trusted to no council and senate whatever, and which would nowhere be so dangerous as in the hands of a man who had folly and presumption enough to fancy himself fit to exercise it.”
Americans must be wary of continuing to hand over their hard-won liberties to bureaucrats and legislators in whose interest it is, not to serve the public good, but to promote legislation which enhances their own power and position. The government is not the hand of God and it is not unbiased. Only 12% of Americans believe Congress is doing a good job. It is folly to continue to surrender our liberties to such an unpopular and overbearing institution.
A Culture of Dependency - Austin Raynor
Let's Downsize DC! - Richard Sutton
Health Care Reform Vs. Regulatory Reform - Richard Sutton
Wingnut, on 1/13/2010 at 5:20am, said:
You DO see the pyramid scheme symbol on the back of the USA one dollar bill, right? You DO see the servitude infestation in capitalism, right? And do you see the "pay up or lose your wellbeing" Chicago mob-like felony extortion widespread within capitalism? Do you see the "join or starve" felony extortion done to the 18 year olds... by this ugly competer's church called capitalism? See how forcing competer's religions onto 18 year olds... kills membership in the cooperator's church (Christianity/socialism)?? Do you understand that AmWay (American Way) (New World Order) got "the exclusive" (legal tender) on the TYPE of survival coupons (money) accepted in supply depots (stores) and leverages 18 year olds into the organization via that felony activity as well? (It puts AmWay-coupon slaving requirements called price tags... on all the survival goods). Do you understand how farmyard pyramids work... from your childhood?? Remember?? Upper 1/3 are "heads in the clouds" while the kids on the bottom ALWAYS GET HURT from the weight of the world's knees in their backs? Still with me? Do you see anything illegal, immoral, or just plain sick... in any of this pyramid scheme's activities?
Us American Christian socialists are still patiently awaiting the natural fall of the pyramid-o-servitude, or the busting of the free marketeers felony... by the USA Dept of Justice. Us Christians are VERY CLOSE to issuing a cease and desist order until the servitude and inequality goes away... which means it turns into a commune. Commune is a word we LOVE when used in the word "community"... but its one the caps HATE when used in the term "commune-ism". Go fig. PROGRAMMED!!
Do a Google IMAGE SEARCH for 'pyramid of capitalist' to see a full color picture made way back in 1911, when capitalism was first discovered to be a con/sham instigated by the Free Masons/Illuminati. Folks sure bought into the thing... hook, line, and sinker just the same. The caps didn't even check if a string was attached! Now THAT'S easy fishing, eh?
Time to level the felony pyramid scheme called capitalism. Abolish economies and ownershipism worldwide, and hurry. Economies just cause rat-racing, and rat-racing causes felony pyramiding. BUST IT, America! Look to the USA military supply/survival system... (and the USA public library system) for socialism and morals done right. Equal, owner-less, money-less, bill-less, timecard-less, and concerned with growth of value-criteria OTHER THAN money-value. Quit doing monetary discrimination immediately, and make it illegal. There are MANY measurement criteria of "value"... not just dollars. Try morals, efficiency, discrimination-levels, repairability, etc etc. Economies are cancerous tumors, and to cheer for their growth... is just insane. Profiting causes inflation, so if caps LIKE inflation, and if they LIKE a terrible time in afterlife when they meet the planet's ORIGINAL OWNER before caps tried to squat it all with ownershipism, then keep it up with the felony pyramiding. I dare you. While us Christians are finally bulldozing that pyramid scheme back to level, lets make servitude and "join or starve" (get a job or die) illegal in the USA, and lets level the architecture seen in USA courtrooms, too. Right now, USA courtrooms are church simulators or "fear chambers", by special design. Sick.
Isn't that back-of-the-dollar pyramid... a Columbian freemason symbol? And WHERE is the USA gov located? District of Columbia? (Not even part of the USA!) How much more blatant can ya get? The "Fed" runs a pyramid scheme called the free marketeers. If you're using the "federal reserve note" certificates, or using no-other-living-thing-on-the-planet entitles of ownership, you're bought into a servitude/slavery con/sham... called capitalism. Pyramiding 101.
Larry "Wingnut" Wendlandt
MaStars - Mothers Against Stuff That Ain't Right
Bessemer MI USA
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