My Views On Economics

I’m an advocate of the complete separation of the state from the economy, i.e., of a 100% free market.

Economics depends on politics, and politics depends on philosophy. A given political system—capitalism, communism, fascism, the mixed-economy/welfare state, etc.—represents the application of a particular set of philosophical premises, including moral premises, to the question of the proper role of government. Economics then describes the effects of a government’s activity on the production, trade, and so-called “distribution” of wealth.

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The Theories of John Maynard Keynes

John Maynard Keynes (b June 5, 1883, Cambridge, Cambridgeshire, eng.—d. April 21, 1946, Firle, Sussex), was an English economist, journalist, and financier. Although prominent in politics, he achieved his greatest fame as the author of “The General Theory of Employment, Interest and Money” (1935-36), and as a result of the influence of this work became the most influential economist of the twentieth century.

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Politics and Principles (published in the New York Post)

That Mayor Bloomberg believes that “tax policy is the way government uses capitalism… to encourage the right behavior” is shocking. It belies a fundamental ignorance of capitalism while revealing the mindset of a dictator. 

Capitalism is the system wherein the government exists solely to protect the right of the individual citizen to make his own choices based on his own judgment, so long as he abstains from violating the equal rights of others. A dictatorship, by contrast, is the system wherein the government forces the individual citizen to follow the judgment of a single political leader.

Of course, we don’t yet live under a dictatorship or anything near one. What we live under is a mixed economy, i.e., a mixture of capitalism and statism that is currently drifting towards the latter. In this context, the brazen assertion that the purpose of taxes is to influence behavior, rather finance government, represents yet another principled step away from our country’s founding principles.

Under capitalism, a political leader is not endowed with superior wisdom and the right to enforce it on the citizenry through tax policy, law, or any other means. Not in theory, not in fact, and not in a country founded on the rights to “life, liberty, and the pursuit of happiness.”

Obama’s Disingenuous Speech

Senator Obama’s speech was an evasion of the issue that it was allegedly intended to address. His beloved reverend is a hateful, racist, anti-semitic, anti-American crackpot. By what stretch of the imagination can Senator Obama claim him as his “spiritual mentor,” and faithfully listen to his vicious ideas week after week for twenty years, while simultaneously claiming not to share them?

As demonstrated in this election and countless other aspects of contemporary culture, race is no longer a significant issue in the American mind. Articulate, charismatic, but two-faced, the Senator is the wrong man who has appeared at the right time.

Environmentalism vs. Business (published in New York Times)

In “The Greens vs. Germany’s Welfare State,” writer Martin Hefner attempts to deny the economic destructiveness of the Greens’ policies by ignoring their motives and absurdly claiming that the Greens are “allies” of business.

In fact, the premises held by the Greens are the exact opposite of the premises held by businessmen. According to Environmentalism, the business production that makes possible the urban and suburban environment of man should be eliminated because it “destroys” the “natural” environment of everything that isn’t man.

There is no way in logic to reconcile opposite principles. Environmentalism is undeniably a friend to trees, swamps, the unused oil under the ground and the caribou above it. It and its leaders are just as undeniably enemies of economic activity and human well-being.