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Author Topic: Capitalism is ECONOMICS, not government!  (Read 1171 times)
DennisLeeWilson
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« on: 2016-June-22 09:35:34 PM »

Capitalism is ECONOMICS, not government!
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Links to this page: ‘ ’  “ ”  ' '  " "
bit.ly/Capitalism-is-ECONOMICS
http://tinyurl.com/Capitalism-is-ECONOMICS
http://dennisleewilson.com/simplemachinesforum/index.php?topic=748.msg1944#msg1944

Publication history:
L. Neil Smith’s THE LIBERTARIAN ENTERPRISE
Number 883, July 31, 2016
http://www.ncc-1776.org/tle2016/tle883-20160731-07.html

Capitalism is an ECONOMIC system, NOT a system of governance nor form of government!
Capitalism is a spontaneous, UN-regulated, free-trade economic system.



Capitalism is ECONOMICS, not government!
by Dennis Wilson

“What is called a Planned Economy is no Economy at all.
It is just a system of GROPING ABOUT IN THE DARK.”
~ Ludwig von Mises

Many people conflate forms of government with economics. This is somewhat understandable because governments DO exercise great influence over the economic activity within their control. But conflating government and economics has led to serious misunderstandings about cause and effect. This is clearly visible in the large number of attempts at blaming “Capitalism” for the evils being committed by Governments and their Crony Corporations!  And, as quoted later in this article,  “...it is also extremely dangerous. This false narrative demonizes the use of free market solutions...” .

Totalitarianism, communism, socialism, nationalism, fascism (Crony-Corporatism), democracy, republic, mini-statism (usually mislabeled as “minarchy”) and micro-statism are ALL forms of government (statism) with authoritarian rulers exercising varying degrees of imposed control over individuals and their economic activities. By way of contrast, anarchy is the absence of such rulers and autarchy[1] is self rule.

Capitalism is an ECONOMIC system, NOT a system of governance[1] nor form of government! Capitalism is a spontaneous, UN-regulated, free-trade economic system. The efficacy of a particular instance of Capitalism is highly dependent upon the quantity and severity of regulations that are enforced in a particular geographical area by a particular form of government. Historically, the more authoritarian governments have more rules and regulations to control their “Planned” Economy.  And historically, the less government and fewer regulations, the better the economy works. To obtain the most individual freedom the logical conclusion is NO government with its economic consequence: full, spontaneous, UN-regulated, free-trade, laissez-faire Capitalism. This political-economic combination is often called anarcho-capitalism.




GOVERNMENTS--not corporations--have the monopoly power to:

  • Create and abolish laws
  • Enforce laws with guns and prisons
  • Decide whether to prosecute a crime
  • Act as judge in cases against itself
  • Create money in any quantity
  • Lend money to itself in any quantity
  • Bail out any insolvent corporation
  • Price fix interest rates on money and any other product or service
  • Ban any product or service
  • Impose taxes on any product or service.




EACH AND EVERY Corporation in the world is LICENSED by some government, somewhere and CONTROLLED by that government's REGULATIONS and PROTECTED from liability[2] or even BAILED OUT by that government's “laws”, courts, police and military. Corporations WILL DO what their government masters dictate--or else they will have their assets seized and cease to exist! Witness the large number of banks since 2001 in the USA that were arbitrarily “declared insolvent”, immediately seized (bypassing legal bankruptcy proceedings and leaving investors with nothing) and given away or sold--for pennies on the dollar--to the larger, favored, “Too-Big-To-Fail” banks.

But this is a double-edged sword. Corporations, especially the wealthier, “Too-Big-To-Fail” corporations, can and do bribe government agents to create regulations masquerading as “laws” that stifle and inhibit competition. Government agents are fully aware of the personal financial gains (bribes) possible and embrace this system.

This cozy relationship between Government and Corporations began in modern times when a business that later became the British East India Company, received a Royal Charter from Queen Elizabeth on 31 December 1600, granting an exclusive monopoly and for which she received “compensations”.


In the 20th Century, this political-economic combination was called Fascism. The 21st Century name is Crony-Corporatism[3].

IN THE NAME OF REASON, RATIONALITY and TRUTH, **PLEASE** stop calling the current political-economic system “Crony-Capitalism”! It has nothing whatsoever to do with “Capitalism”. Even some writers at Mises.org are close to understanding it!!



STOP blaming “Capitalism” for the evils being committed by Governments and their Crony Corporations!


Footnotes:

[1] For a recommended, personalized system of governance, see the articles at the following links.


[2] A recent example of Liability Protection is reported in End Pharma Liability Shield Endangering Public Health and Human Rights at http://www.nvic.org/NVIC-Vaccine-News/November-2016/end-pharma-liability-shield-protect-human-rights.aspx
  • Even though by Nov. 1, 2016, $3.5 billion had been awarded to more than 3,500 vaccine victims through the federal vaccine injury compensation program (VICP) created under the 1986 law, two out of three claims have been denied throughout the entire history of the law’s implementation. Most of the compensation awards today are for adults injured by flu vaccine - not for children required to get vaccines to go to school

[3] I only ask that editors and several writers at places like Mises Institute--be consistent!

In the 20th Century, this political-economic combination was called Fascism. The 21st Century name is Crony-Corporatism.

“Crony-Capitalism” implies that “Capitalism” is somehow responsible for the evils being committed by Governments and their Crony Corporations!

The use of “crony-socialism” or “crony-statism” is better than smearing capitalism, but I choose Crony-Corporatism because corporations are a creation of the State and should be constantly viewed as such:

Governments and corporations are organizations consisting of people whereas socialism and statism are descriptions of forms of government. Cronyism describes the relationship between people or groups of people (organizations).

From Wikipedia:
    Cronyism is the practice of partiality in awarding jobs and other advantages to friends or trusted colleagues, especially in politics and between politicians and supportive organizations.

//en.m.wikipedia(DOT)org/wiki/Cronyism
https://en.m.wikipedia.org/wiki/Cronyism



Related article:
Capitalism vs Planned Economy -- Capitalism ALWAYS wins!


See the excerpt from Capitalism ALWAYS wins! by Simon Black

http://tinyurl.com/Capitalism-ALWAYS-wins

TAGS: #Communism #Socialism #Fascism #Statism #Collectivism #Government #Vietnam #Venezuela #regulations #Capitalism


This article was originally published on Mr. Wilson's website at http://tinyurl.com/Capitalism-is-ECONOMICS


Permission to redistribute this article, or any portion of it, is herewith granted by the author—provided that appropriate credit is given as per Creative Commons, Attribute, Share Alike.





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« Last Edit: 2017-February-12 11:05:00 AM by DennisLeeWilson » Logged

Objectivist & Sovereign Individual
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Signatory: Covenant of Unanimous Consent
DennisLeeWilson
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« Reply #1 on: 2016-June-23 03:37:37 PM »

Capitalism vs “Planned” Economy -- Capitalism ALWAYS wins!
Links to this page: ‘ ’  “ ”  ' '  " "
bit.ly/Capitalism-ALWAYS-wins
http://tinyurl.com/Capitalism-ALWAYS-wins
http://dennisleewilson.com/simplemachinesforum/index.php?topic=748.msg1945#msg1945


Capitalism vs “Planned” Economy -- Capitalism ALWAYS wins!


Excerpt from Capitalism ALWAYS wins! by Simon Black, June 13, 2016
https://www.sovereignman.com/trends/capitalism-always-wins-19896/?inf_contact_key=2232a1f3e92089955a12b7d1388ca672d352b47b324e89704a04f8e296969bf7


  • Capitalism always wins because people want the comfort and lifestyle that become possible when talented people have the incentive to work hard and innovate.

    It doesn’t even really require too much to create these incentives. The recipe is simple: property rights, financial reward, and limited bureaucracy.

    Just bear in mind that all three are critical.

    If it takes 4 years and 600 permits to start a business, for example, it won’t matter if tax rates are low and property rights are sacred; there will still be too many disincentives to produce.

    So when governments start redistributing wealth and property and creating mountains of regulations to ‘protect’ the people, they degrade all three factors.

    Remember the Universal Law of Prosperity: You have to produce more than you consume.

    So when there are disincentives that destroy production, prosperity suffers and everyone is worse off. It’s so simple.

    Amazingly enough, though, so much of the West seems to be sprinting in the direction of central planning.

    The amount of regulations created every single day by the US government is just shocking-- TODAY alone another 507 pages of rules and notices were published.

    It’s also astounding to see how prominent socialism is becoming in the Land of the Free.

    There’s this pervasive fantasy that people can get a bunch of free stuff.

    The reality, of course, is ending up like Venezuela with shortages of toilet paper and a currency in hyperinflation.

    What I find so striking, however, is that while the West seems to be moving faster and faster towards this fantasy of socialism and central planning, out here in Asia they’re going in the opposite direction.

    Vietnam has already had its horrible socialist experiment. They learned their lesson.

    And though Vietnam is starting from a much lower base, and they have a LONG way to go, they’re pushing to become more market oriented, and hence, much more prosperous.

    It’s really not rocket science. Where you have freedom, you have prosperity. Where you don’t, you have Venezuela.

    Simon Black

    Founder, SovereignMan.com

TAGS: #Communism #Socialism #Fascism #Statism #Collectivism #Government #Vietnam #Venezuela #regulations #Capitalism
« Last Edit: 2017-January-22 07:12:27 PM by DennisLeeWilson » Logged

Objectivist & Sovereign Individual
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DennisLeeWilson
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Posts: 1331


Existence exists & Man's mind can know it.


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« Reply #2 on: 2017-February-10 10:58:52 PM »



Ludwig von Mises, the classical-liberal economist (and immigrant) never sank to ad hoc endorsement of statist migration controls. He knew that they are antithetical to a free society. As he put it, “Without the reestablishment of freedom of migration throughout the world, there can be no lasting peace.”

If libertarians today do not take a principled stance on such issues, there is little hope of our convincing anyone else to work towards a free society.













« Last Edit: 2017-February-10 11:17:28 PM by DennisLeeWilson » Logged

Objectivist & Sovereign Individual
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Signatory: Covenant of Unanimous Consent
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