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Libertarian Law by Democratic Means: The Power of Ideologies and Public Opinion | Mises Wire

Posted by M. C. on May 6, 2023

Mises—using the subjectivist-utilitarian method of analyzing society: subjective value, entrepreneurial innovation, consumer sovereignty, and action guided by ideas about ends and means—argues that in reality all de jure government is ultimately de facto government by public opinion, which is guided by ideologies.

From a Misesian perspective, the establishment of a representative democracy is a quest for a de jure government of public opinion. This could deal both with the social fact of the power of ideologies and public opinion and with the regulative ideal of a peacefully adapting to changes in the ideological preferences of the population.

https://mises.org/wire/libertarian-law-democratic-means-power-ideologies-and-public-opinion

Fabricio Terán

Previously I explained Ludwig von Mises’s descriptive philosophy of the consent of individuals as the only thing that gives value to norms and authority. Individuals interpret norms and authority as useful—whether or not they are useful in reality for individuals’ purposes of coexistence. I continue with the explanation of how group consent originates and how it sustains norms and authorities with the help of ideologies and public opinion.

Ideologies and Ideological Entrepreneurs

In the first place, the consent of the governed refers to individual consent to ideas, more specifically to systems of ideas that Mises calls “ideologies.” From Misesian theory, the act of consenting to norms and authorities is influenced by an ideology that guides action. Ideologies are standardized sets of purposes and means that facilitate the creation of groups by simplifying individual choices. In Mises’s words:

What creates a group activity is a definite end sought by individuals and the belief of these individuals that cooperating in this group is a suitable means to attain the end sought. A group is a product of human wishes and the ideas about the means to realize these wishes. Its roots are in the value judgments of individuals and in the opinions held by individuals about the effects to be expected from definite means. To deal with social groups adequately and completely, one must start from the actions of the individuals. No group activity can be understood without analyzing the ideology that forms the group and makes it live and work.

Mises’s subjectivist-utilitarian individualism helps us to understand social phenomena on the basis of minimum certainties and by avoiding metaphysical speculations: only individuals exist in a real way, while groups exist only as the action of individuals who share the same ideologies.

In Misesian philosophical individualism, since individuals act, there are no “natural” forms of organization of society; all forms of organization are ideological, and ideologies are human inventions and choices. Therefore, ideologies are explained as immaterial products or social technologies created by concrete individuals and not by an anonymous mass or some metaphysical phantom. Groups are consumers of these products, and social phenomena are the result of these products. Mises explains ideologies as entrepreneurial creations:

There are pioneers who conceive new ideas and design new modes of thinking and acting; there are leaders who guide people along the way these people want to walk, and there are the anonymous masses who follow the leaders. There can be no question of writing history without the names of the pioneers and the leaders. . . . To ascribe the ideas producing historical change to the mass psyche is a manifestation of arbitrary metaphysical prepossession. . . . Mass movements are not inaugurated by anonymous nobodys but by individuals. We do not know the names of the men who in the early days of civilization accomplished the greatest exploits. But we are certain that also the technological and institutional innovations of those early ages were not the result of a sudden flash of inspiration that struck the masses but the work of some individuals who by far surpassed their fellow men.

There is no mass psyche and no mass mind but only ideas held and actions performed by the many in endorsing the opinions of the pioneers and leaders and imitating their conduct. Mobs and crowds too act only under the direction of ringleaders. The common men who constitute the masses are characterized by lack of initiative. They are not passive, they also act, but they act only at the instigation of abetters.

In short, ideologies are sets of standardized ends and means created by intellectuals—the ideological entrepreneur. When adopted by others, ideologies generate group actions, including the action of group consent to certain norms and authorities.

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Will a New BRICS Currency Change Anything? Maybe | Mises Wire

Posted by M. C. on May 6, 2023

Unless the BRICS are willing to give up the power to create money out of thin air and create a currency that is backed 100 percent by gold or other commodities, any new currency will likely suffer the same problems as the dollar and other fiat currencies.

https://mises.org/wire/will-new-brics-currency-change-anything-maybe

Jon Wolfenbarger

Money first originated through the voluntary exchange of commodities, such as gold and silver, in order to eliminate the inefficiencies of barter.

As Austrian school of economics founder Carl Menger explained:

Money is not an invention of the state. It is not the product of a legislative act. Even the sanction of political authority is not necessary for its existence. Certain commodities came to be money quite naturally, as the result of economic relationships that were independent of the power of the state.

However, governments quickly learned that they could gain enormous wealth and power by taking control of money. Ludwig von Mises detailed in his magnum opus Human Action how this control has harmed human progress and noted that “For two hundred years the governments have interfered with the market’s choice of the money medium. Even the most bigoted étatists [statists] do not venture to assert that this interference has proved beneficial.”

Murray N. Rothbard further elaborated in What Has Government Done to Our Money? that

government meddling with money has not only brought untold tyranny into the world; it has also brought chaos and not order. It has fragmented the peaceful, productive world market and shattered it into a thousand pieces, with trade and investment hobbled and hampered by myriad restrictions, controls, artificial rates, currency breakdowns, etc. It has helped bring about wars by transforming a world of peaceful intercourse into a jungle of warring currency blocs. In short, we find that coercion, in money as in other matters, brings, not order, but conflict and chaos.

We see this chaos every day, with the economy bouncing from inflation to deflation and boom to bust. How did we reach this point and could it change going forward?

Devolution Of Money from Gold to Fiat Currencies

Prior to World War II, the British pound was the world’s “reserve currency.” However, after the war, the United States had the strongest economy and largest amount of gold reserves in the world.

At the Bretton Woods Conference in 1944, the US dollar was tied to gold at thirty-five dollars per ounce, and all other currencies were tied to the US dollar at fixed exchange rates. That made the dollar the “world reserve currency,” which means it was the only currency accepted throughout the world for the settlement of international trade accounts.

In the 1960s and early 1970s, the US government’s out-of-control spending spurred a run on US gold reserves by foreign governments. In response, President Richard Nixon ended all ties between the US dollar and gold in 1971. Since then, there has been no commodity backing for any currencies in the world. This led to higher inflation and lower living standards than would have otherwise occurred.

Following the Arab oil embargo of 1973, the US government agreed to provide military support to Saudi Arabia in exchange for Saudi Arabia agreeing to sell oil only in US dollars. This “petrodollar” arrangement helped solidify the dollar as the world’s reserve currency for the past fifty years.

What can compete with the US dollar now?

Rise of the BRICS

“BRICS” is an acronym for five of the largest emerging countries: Brazil, Russia, India, China, and South Africa. The BRICS countries comprise about 42 percent of the global population and 32 percent of global gross domestic product (GDP). By contrast, the US has only 4 percent of the global population and 16 percent of global GDP.

In addition, several countries are rumored to be joining the BRICS alliance in the future, including Saudi Arabia, the United Arab Emirates, Egypt, Turkey, Thailand, and Indonesia.

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The Kremlin Did Not Kill Itself: Notes From The Edge Of The Narrative Matrix

Posted by M. C. on May 6, 2023

I say we arm Russia against Russia. If it’s bombing its own government buildings, its own pipelines, its own captured power plants, then it’s the best proxy force against Russia we’ve got. Send the Russians tanks and F-16s immediately...

And of course they don’t looks so special because they aren’t so special. All the people we used to regard as superior to ourselves were always just schmucks like us.

And I think there’s something very empowering and democratizing about this growing collective realization.

https://substack.com/inbox/post/119596100

CAITLIN JOHNSTONE

Your rulers do not care what race you are. They do not care if you are gay, transgendered or nonbinary. They do not care how many bullets you are allowed to have in your gun. They do not care whether you are allowed to have an abortion or not. They do not care if you are racist, sexist, ableist, ageist, xenophobic, homophobic, transphobic or fatphobic. They do not care about diverse representation in politics or media, and they do not care about any lack thereof. All they care about is that we all keep thinking, speaking, working, consuming and voting in ways which keep them rich and powerful and keep us poor and powerless. And they will happily keep us arguing as intensely as possible about the things they do not care about so that we don’t turn our attention to the things they do care about.

This doesn’t mean those other issues aren’t real concerns, and in fact our rulers stand everything to gain by exacerbating the injustices involving issues they don’t care about in order to keep attention in those convenient areas. But the solution to the problems our rulers don’t care about is the same as the solution to the problems our rulers do care about: overthrow our rulers.

Western mass media are saturating the airwaves with the narrative that Wednesday’s drone bombing of the Kremlin was a “false flag”, by which they mean that Russia did it to themselves to advance some nefarious agenda.

False flags are a thing and they do happen, but to act like that’s the most likely explanation for the Kremlin bombing when Russia is currently at war with a neighbor who has the means, motive and opportunity is something only a propagandist would do. Especially when oligarchs from that neighboring nation are openly incentivizing people to attack Russia with drones for cash rewards, when Zelensky’s coinciding absence from the country prevented immediate retaliation, and when Atlantic propagandists are writing enthusiastically about the sophisticated drone facilities they visited in Ukraine.

In 2017 I was temporarily suspended by Facebook for posting an article about known false flags, because until 2022 mainstream narrative managers considered false flags to be a crazy crackpot concept. That changed the moment the idea became useful to western propagandists.

When this changed in early 2022 it initially took journalists by surprise, because until then they’d only ever heard “false flag” used to dismiss people like Alex Jones:

https://twitter.com/mtracey/status/1489370596370755587

I say we arm Russia against Russia. If it’s bombing its own government buildings, its own pipelines, its own captured power plants, then it’s the best proxy force against Russia we’ve got. Send the Russians tanks and F-16s immediately.

Russia’s fighting Russia over there so we don’t have to fight Russia over here.

A westerner who spends half their time criticizing the US empire and half their time criticizing the US empire’s enemies isn’t providing “balance”, they’re just spending half their time contributing to an already wildly unbalanced information environment that is overwhelmingly biased in favor of US-friendly narratives.

Westerners constantly respond to criticism of US foreign policy with “You love Putin and think he is good” because they really, truly subscribe to a children’s cartoon “Good Guys vs Bad Guys” worldview. To them, saying one side is Bad means you think the other side is Good. 

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Jay Powell Said the Banking System Is “Sound and Resilient.” Now More Banks Are in Trouble. | Mises Wire

Posted by M. C. on May 5, 2023

Perhaps the most recent—and alarming—demonstration of the Fed’s disconnect from reality comes from the Fed’s repeated failures to foresee or address mounting bank failures. 

2023 has already seen three major banks failures. As The New York Post reported on Monday: 

Still wonder why Ron Paul wants to end the Fed?

https://mises.org/wire/jay-powell-said-banking-system-sound-and-resilient-now-more-banks-are-trouble

Ryan McMaken

The Federal Reserve’s Federal Open Market Committee (FOMC) on Wednesday raised the target policy interest rate (the federal funds rate) to 5.25 percent, an increase of 25 basis points. With this latest increase, the target has increased 5 percent since February 2022. This is the highest rate reached since August 2007, shortly before a recession began in December of that year. 

With an increase of only 25 basis points, the May meeting is the third month in a row during which the Fed has pulled back from its more substantial rate hikes of 2022. After four 75-basis-point increases in 2022, the committee approved a 50-point increase in December, followed by 25-point increases in February and March, and another on Wednesday. 

targetrate

Although CPI inflation has remained at or above five percent in recent months the FOMC has slowed down in its monetary tightening over the past four months. This is spite of the fact Powell today characterized price inflation as “well above” the two-percent target while concluding the Fed “has a long way to go” in terms of getting price inflation under control. Nonetheless, indications continue to mount that the Fed is maintaining its drift toward more dovish policy.

The Fed Readies for a “Pause” on Interest Rates

This was apparent in Powell’s comments on the state of the economy on Wednesday. The Fed uses most indications of economic weakness as excuses to embrace monetary easing, and the Fed now increasingly points to weakening growth. In his remarks, Powell said “the US economy slowed significantly last year” while noting the pace of growth “continued to be modest” into the spring. Although Powell, as usual, pointed to “strong” job growth numbers, he did not present this as a clear indicator of the overall economy. Instead, the discussion turned toward the Fed’s economic forecasts which, according to Powell, point to a “mild recession.” Sticking to the usual script however, Powell emphasized the word “mild” and predicted employment losses as a result of a coming recession would be “smaller than is typical in recessions.” Given that the Fed has demonstrated no prescience whatsoever in terms of forecasting inflation rates or economic growth in recent years, it’s unclear as to what gives Powell the confidence to make such a precise prediction.

The FOMC’s press release text also points toward a policy turn away from monetary tightening. For example, in March’s press release, the FOMC noted:

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Police Tell San Francisco Homeowner To Hire Private Security After Suffering 8 Break-Ins

Posted by M. C. on May 5, 2023

The rise in property crime has rattled neighborhoods across the city.

Police have told Cook that they simply won’t investigate these types of crimes,

https://open.substack.com/pub/leefang/p/police-tell-san-francisco-homeowner?utm_source=direct&r=iw8dv&utm_campaign=post&utm_medium=web


LEE FANG

In San Francisco, burglaries, car thefts and the coordinated looting of retail stores have become so common that it’s easy to lose sight of the human toll of these crimes and the role that the government plays in allowing them to persist.

The experience of one city resident, whose home was broken into for an eighth time on Saturday, provides a window into the anarchy that has taken hold.

Ben Cook, a technology entrepreneur, purchased a home in the Dolores Heights neighborhood seven years ago and has been renovating it for the better part of the last two years. Over the course of that period, he has been at pains to protect the safety of his contractors, their expensive construction materials, and other items targeted by thieves at the work site from repeated thefts.

The last incident, a brazen intrusion by a man who entered the house by breaking into the front door, happened in broad daylight last Saturday morning. He appeared to be armed, though he fled once confronted by a worker, and left the scene in a white BMW driven by someone who accompanied him to the house.

In another incident in March, intruders arrived with two vehicles and ransacked the home, breaking windows and a downstairs door. They fled with construction tools, equipment, and appliances, including a washer and dryer. 

Police have told Cook that they simply won’t investigate these types of crimes, according to Cook. After repeatedly calling the San Francisco Police Department to report the thefts with little to show for his efforts, an officer told Cook after Saturday’s break-in that he would have better luck hiring private security guards. 

“I decided to invest a lot of my time and a big chunk of savings to put down roots here. I do love this city,” Cook told me. “But sometimes it feels like civilization is crumbling.”

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Apple, Google Team Up To Create ‘Alerts’ For Spying And Location Tracking

Posted by M. C. on May 5, 2023

“AirTag was designed to help people locate their personal belongings, not to track people or another person’s property, and we condemn in the strongest possible terms any malicious use of our products. Unwanted tracking has long been a societal problem, and we took this concern seriously in the design of AirTag,” it said.

Tyler Durden's Photo

BY TYLER DURDEN

Authored by Jack Phillips via The Epoch Times (emphasis ours),

Apple and Google on Tuesday proposed creating alerts amid reports of stalking via Apple’s AirTag and similar tools, according to a release issued Tuesday.

Apple’s AirTag. (Stock photo/Onur Binary/Unsplash)

The new proposed industry standard will allow the Big Tech companies to “allow Bluetooth location-tracking devices to be compatible with unauthorized tracking detection and alerts across iOS and Android platform,” the joint release said, adding that “best practices and instructions” will be included for such devices.

“Today, Apple and Google jointly submitted a proposed industry specification to help combat the misuse of Bluetooth location-tracking devices for unwanted tracking,” the release said.

Samsung, Tile, Chipolo, eufy Security, and Pebblebee have expressed support for the draft specification, which offers best practices and instructions for manufacturers, should they choose to build these capabilities into their products,” it added.

Dave Burke, Google’s vice president of engineering for Android, claimed Tuesday that stopping unwanted Bluetooth device-based tracking will be adopted across the tech sector. According to a proposal, tech firms are aiming to perform “unwanted tracking detection” on such devices that “can both detect and alert individuals that a location tracker separated from the owner’s device is traveling with them,” and it would also “provide means to find and disable the tracker.”

Bluetooth trackers have created tremendous user benefits, but they also bring the potential of unwanted tracking, which requires industrywide action to solve,” Burke said in the release.

“Android has an unwavering commitment to protecting users, and will continue to develop strong safeguards and collaborate with the industry to help combat the misuse of Bluetooth tracking devices.”

Erica Olsen, senior director of the Safety Net Project at the National Network to End Domestic Violence, told news outlets that AirTags and similar products are being used by domestic abusers. “It’s imperative for advocates and technology companies to work together on solutions to minimize the opportunities for misuse,” Olsen said of Bluetooth trackers.

Detail of the Bluetooth button of an audio system in Mexico City on Dec. 6, 2018. (Omar Torres/AFP via Getty Images)

An AirTag is a quarter-sized tracking device that sends out a Bluetooth signal to tell the owner of its location. It and other Bluetooth location-tracking devices and tools allow people to find lost luggage, keys, and other items, but there have been increasing reports of people misusing them to stalk, spy on, or track the whereabouts of people.

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No Compassion on U.S. Aid to Ukraine

Posted by M. C. on May 5, 2023

A genuinely free society is one in which people are free to keep everything they earn and decide for themselves what to do with it. In that type of society, if people choose to donate to some worthy cause, it could be said that they are doing so out of a sense of care and compassion. That’s because they are donating their own money voluntarily.

If we lived in that type of society, the Ukrainian regime and the Ukrainian people would be entitled to ask Americans to send them donations.

by Jacob G. Hornberger

Last week I wrote an article entitled “How Can Force Entail Compassion?” which focused on America’s welfare-state programs. I pointed out that, contrary to popular opinion, such programs do not reflect any goodness within the American people. That’s because they are founded on the force of taxation, which is enforced by the Internal Revenue Service, one of the most tyrannical agencies in U.S. history. Force and compassion are opposites. Genuine compassion, I pointed out, comes from the willing hearts of individuals, not from the threat of an IRS audit or criminal prosecution.

The same principle holds true for U.S. aid to foreign regimes, including Ukraine. The fact that the U.S. government has sent some $75 billion to the Ukrainian regime to assist it in its war with Russia says nothing about the goodness of the American people. That’s because the money that is being sent has been collected by force from American taxpayers. As with welfare-state programs, force and compassion are opposites. 

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Biden Signs Executive Order to Impose Sanctions on Sudan

Posted by M. C. on May 5, 2023

The order gives him the authority to sanction individuals and entities

And the last time sanctions helped the common folk and solved a crisis was…

antiwar.com

by Dave DeCamp

President Biden on Thursday signed an executive order expanding his authorities to impose sanctions on Sudan over the conflict that broke out between rival generals on April 15.

Forces loyal to Abdel Fattah al-Burhan, Sudan’s army chief and de facto leader, have been fighting with the Rapid Support Forces (RSF), led by Mohamed Hamdan Dagal, known as Hemedti. The two military leaders have agreed to several ceasefires, but the fighting has not stopped.

In a statement, Biden said the conflict in Sudan “must end.” His order gives him sweeping authorities to sanction any person or entity the US determines is “involved in activities that threaten the peace, security, and stability of Sudan.”

The order said the “situation in Sudan, including the military’s seizure of power in October 2021 and the outbreak of inter-service fighting in April 2023, constitutes an unusual and extraordinary threat to the national security and foreign policy of the United States.”

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The Militarization of IRS Agents?

Posted by M. C. on May 5, 2023

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Watch “The AI Effect: A New Era in Music and Its Unintended Consequences” on YouTube

Posted by M. C. on May 5, 2023

Are fake bands and no royalties in our future?

https://youtu.be/-eAQOhDNLt4

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