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Brandybuck
05-26-2007, 12:21 PM
Many of us are suspicious of capitalism and the free market. That is to be expected, however, because most of us have spent our lives being indoctrinated and brainwashed by the public school system and corporate media Newspeak. But what they tell you about economics is not true. Capitalism did not cause the great depression! The free market doesn't cause recessions! And NAFTA/CAFTA don't have a damned thing to do with free trade!

Ron Paul fully and completely supports the free market. He is an economist (in the sense that he is a scholar of economics) of the Austrian school. He is an advocate of freedom and liberty in the economic sphere. He's also quite laissez-faire, but that word has been so completely twisted by the state/media establishment, that I won't use it.

A good set of Dr. Paul's economic writings: http://www.ronpaullibrary.org/topic.php?id=9

One of the fears that people have regarding the free market is that is causes wealth concentration. Is this true? Yes. But is it something to fear? No! A free market causes wealth concentration simply because some people are more talented, productive and lucky than others. But that isn't a danger. All a billionaire has is a billion dollars. Pffft! He can't do anything with that billion dollars to hurt you. If he wants to use that money to take your home and erect a fancy hotel, he has to first persuade you voluntarily to sell you home. He cannot force you to do anything against your will.

The danger is the government. Imagine a billionaire in collusion with the government. That's scary! He can now get the government to condemn your property if you don't want to sell. He can buy politicians' votes. He can get special political privileges. But it is the government that is causing this. The solution isn't a bigger government to punish the rich, but a government too small to take advantage of. The only legitimate role for government to play in the economy is to be a policeman, to ensure that there is no violence, that all economic transactions are willing and voluntary.

But what about the poor? Given that there will always be a bottom 10%, there will always be "the poor". But the poor in a true free market economy will be vastly better off than they are in our current statist system. History shows that the poor in free market economies are always better off than the poor in collectivist economies. Imagine a society where the poor were free to start their own businesses without the interference of the state, where their savings weren't eroded by inflation, where their taxes were tiny or nonexistant, where real competition kept prices low, where economic growth kept employment and wages high. Sounds a hell of a lot better than the statist solution of housing projects and food stamps!

Here's some other great links on the Free Market and Austrian economics:

Von Mises Institute: http://www.mises.org/
Foundation for Economic Eduation: http://www.fee.org/
The awesome Cafe Hayek blog: http://www.cafehayek.com/

Carl
05-26-2007, 02:46 PM
Free markets only work with honest money, fortunately for us; Ron Paul is for honest money.

.

Gee
05-26-2007, 03:15 PM
Yup.

Industrial progress, mechanical improvement, all of the great wonders of the modern era have meant little to the wealthy. The rich in ancient Greece would have benefited hardly at all from modern plumbing — running servants replaced running water. Television and radio — the patricians of Rome could enjoy the leading musicians and actors in their home, could have the leading artists as domestic retainers. Ready-to-wear clothing, supermarkets — all these and many other modern developments would have added little to their life. They would have welcomed the improvements in transportation and in medicine, but for the rest, the great achievements of western capitalism have rebounded primarily to the benefit of the ordinary person. These achievements have made available to the masses conveniences and amenities that were previously the exclusive prerogative of the rich and powerful.
...
Everywhere, and at all times, economic progress has meant far more to the poor than to the rich.

Bradley in DC
05-26-2007, 04:27 PM
Free markets = voluntary trade = contractualism (Rule of Law) ? war/fraud

Eric B
05-26-2007, 08:57 PM
What is so hard to understand about that? We, the people, need to get control of our government. Go Paul Go!

Aratus
06-07-2009, 12:23 PM
http://www.bellinghamherald.com/602/story/939371.html its an analytical
and retrospective mood i am in today as this local sounding story out of
the west coast caught my eye as it presents several relevant parallelisms...

MyLibertyStuff
06-07-2009, 12:36 PM
Nicely written

cheapseats
06-09-2009, 12:08 PM
Free markets only work with honest money, fortunately for us; Ron Paul is for honest money.

.

Honest money, property rights, enforceable contracts -- candidly, the only things that certain self-described libertarians seem to hold dear -- ALL speak to one thing: HONESTY, period.

FREE MARKETS ONLY WORK WITH HONEST PEOPLE. And the Honor System is inadequate safeguard against the dark aspects of Human Nature.