Liberty Forged

the State has no money of its own, so it has no power of its own. ` Nock

Most of my writing are comments are other blogs….

Posted by Jesse on October 17, 2008

my blog is more of a library with a little bit of “diary/notes” that I feel like recording.

another comment I have made on LibertasExemplar

jason,

i wish more people would try to apply the logic you just cited to other problems. (in this country, not other people’s countries) you are exactly correct in asking how government distorts the market. the current banking/wall st. crisis is difficult to analyze for precisely the reason there is and have been massive government interventions.

short term and long term is highly important. if we talked about the theory of intervention in more depth we could expose the reasons why the market is far superior to government control of the economy.

there is no choice that separates short and long, they are integrated. what differentiates the two is a matter of efficiency. so it is simple, yet complex. which is exactly the reason it is inefficient for a central authority to even attempt to command such a complex phenomena as the market.

government cannot control the economy, in fact, it is subject to the economy, not the other way around. this is why it is futile and destructive for government to assume authority in these matters. just as government is supposed to be of, by, and for the people, so is the market. but the market comes first. government is born out of the market. (choices are limited, we live under oppressive standards, lets create a more prosperous environment where our rights are secured and protected, i.e., the liberal idea of the function of government) one can only explain the market and act in it, whereas government is instituted and established to protect the rights to life and property. the market is made up of human actors that produce the goods that we enjoy in life.

it’s easy to see how they are similar, and indeed we can integrate them, but it is completely against the idea of a free society to say that government should create the market and dictate the rules thereof. a free society can be explained in terms of economy, and the government should, if at all, only exist to protect that right to act in the economy so long ones actions are not coercive. a peaceful society should be protected. it cannot be dictated.

so this statement is exactly backwards: “trying to divorce the “free-market” from what is actually happening in the world.”

“That to secure these rights, governments are instituted among men, deriving their just powers from the consent of the governed. That whenever any form of government becomes destructive to these ends, it is the right of the people to alter or to abolish it”

this statement exactly represents the true nature of the market. it is supposed to be voluntary. it cannot be ‘coercive’ and at the same time ‘free’. value is subjective. it cannot be dictated. which is exactly why this bailout is flat-out robbery. “the people”, the citizens are buying at a price that is being dictated by government. there is no choice. this is not the function of government. government is instituted to protect and secure the property of its people, not squander it.

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For more on praxeology, austrian theory of price, modern subjectivist economics, causal-realist economic theory, scientific economics and the constructs and structures thereof….Man, Economy, and State would be the source to read.

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Capitalism is not the culprit, it’s bad policy by Peter Schiff

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Ron Paul is going the distance.

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