When liberals and socialists start railing about the failure of capitalism, remember that capitalism has not failed. There has never even been any danger in unbridled capitalism. What causes a depression are both the rejection of capitalism and the corruption of capitalism. Capitalism can never fail because it generates an optimum effeciency in resource usage.
What is presented as failure of capitalism are distortions in the market caused by powerful political interests that use democracy to unfairly divert resources to themselves. The failure here is of government allowing corruption of markets.
Despite its enormous benefits, every society rejects capitalism over time. The human species is genetically programmed to assign economic decisions to a central authority. Not by choice but by a compulsion from antiquity, people in a democracy start moving back towards living in servitude. Servitude is more familiar genetically, feels normal, and is opted for without ever engaging in thought.
During the Great Depression, it was often said that capitalism had caused the misery. That notion is completely false. At the darkest days of the Great Depression, rank and file Americans were more prosperous than any group in the world had every been prior to the introduction of free markets.
During the past thirty years, you have allowed your government to dismantle our free market system. Day after day, pillars of prosperity have been removed from our system, with the approval of the voting population. The integrity of our capital markets has been destroyed. There is not one honest financial market in the world today. Our free market system today exists only in the imaginations of the people who live here.
The United States has actually already entered a depression. That fact is just not widely acknowledged. The suffering is not near as intense as it eventually will be. The depression of the current era will be many times worse than the depression of the 1930’s. What you will see will be the economic version of a thousand year flood. During the 1930’s the culture of free enterprise was still alive and viable among the general population. In this 21st century, the culture of free enterprise is completely missing.
Chances are very slim that we will emerge from the coming disaster as an intact free society. In an aggregation where herd behavior is the rule, more not fewer roles will be assigned to government. The process of seeking security by moving to the center of the herd will guarantee an unprosperous outcome. At this point it is highly important that each individual figure out how to take care of himself. For several decades it is going to be a serious every man for himself situation.
Curbside Jimmy’s Hobo Experience
Curbside Jimmy gets a government grant to ride the rails? Where is the outrage?