That the crux of the lawlessness and illegitimacy of the bastards running things and the useful selfish "citizens" who are just as much crooks and thieves as those running things.
Economist Franz Oppenheimer said there were two main ways of gaining wealth, those he called the "economic means", by which he meant free exchange and those he called the "poltiical means", by which he meant lobbying, regulatory capture, cronyism, subsidy, waiver, regulatory relief, tax concessions, etc.
I would add that the bigger that government is the more areas of the free market it will naturally intrude upon, and the more the various private participants will be forced to direct their finite energies away earning money via the economic means and the more those energies will be directed to the political means. We see this in GE, a company that has hundreds of people in its goverment relations and tax compliance department. Recall also that the Enron debacle uncovered a tax department that was being operated as a profit center. Recall where Solyndra made its money, up until the moment it was found to be bankrupt.
When government monopolizes an essential economic function, such as to determine the time value of money, it "socializes" what had previously been a decision of an open market. In other words, instead of people expressing their opinion via their bids in the market, a board of a few experts tells all other participants in the economy what they determine the value will be. This removes the "economic means" and forces people towards the "political means". Thus instead of adjusting our economic circumstances by seeking how to create and innovate, we expend our resources to lobby, agitate, support or oppose the process that determines who sits on the board or commission. Insead of analyzing market forces, we analyze the personal preferences of the bureaucrats and the hints they may have dropped the last time they gave a speech.
Thus we have lower economic productivity, less liberty and find our property and more easily seized. This never ends well.
5 comments:
Standing Ovation!
I'll certainly send the link to everyone I know, that's the easy part.
Wondering though, would it be possible to get a "print-ready" file setup, to generate a newspaper page size image of this?
I'm thinking of having a few hundred printed, and putting them up on phone poles, bulletin boards and other such venues as I can find.
My friends and I can fairly well cover the island with 'em. It'd be an "overnight sensation", if y'know what I mean.
Jim
Sunk New Dawn
Galveston, TX
A broadsheet on every lamp post!
Well done Doug!
That the crux of the lawlessness and illegitimacy of the bastards running things and the useful selfish "citizens" who are just as much crooks and thieves as those running things.
Thanks, guys!
@Jim - I can send you two high-res JPEGs that should be okay to print.
Email me at douglas.ross@gmail.com with subject heading BASTIAT HIGH-RES REQUEST so I pick it out of the tidal wave of email!
Thanks
Economist Franz Oppenheimer said there were two main ways of gaining wealth, those he called the "economic means", by which he meant free exchange and those he called the "poltiical means", by which he meant lobbying, regulatory capture, cronyism, subsidy, waiver, regulatory relief, tax concessions, etc.
I would add that the bigger that government is the more areas of the free market it will naturally intrude upon, and the more the various private participants will be forced to direct their finite energies away earning money via the economic means and the more those energies will be directed to the political means. We see this in GE, a company that has hundreds of people in its goverment relations and tax compliance department. Recall also that the Enron debacle uncovered a tax department that was being operated as a profit center. Recall where Solyndra made its money, up until the moment it was found to be bankrupt.
When government monopolizes an essential economic function, such as to determine the time value of money, it "socializes" what had previously been a decision of an open market. In other words, instead of people expressing their opinion via their bids in the market, a board of a few experts tells all other participants in the economy what they determine the value will be. This removes the "economic means" and forces people towards the "political means". Thus instead of adjusting our economic circumstances by seeking how to create and innovate, we expend our resources to lobby, agitate, support or oppose the process that determines who sits on the board or commission. Insead of analyzing market forces, we analyze the personal preferences of the bureaucrats and the hints they may have dropped the last time they gave a speech.
Thus we have lower economic productivity, less liberty and find our property and more easily seized. This never ends well.
--theBuckWheat
Post a Comment