MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Austrian school’

EconomicPolicyJournal.com: An Introduction to Austrian School Business Cycle Theory

Posted by M. C. on May 27, 2021

https://www.economicpolicyjournal.com/2021/05/an-introduction-to-austrian-school.html

In this edition of “This Week in Economics with Robert Wenzel,” I discuss the boom-bust business cycle and the theory developed by Austrian school economists to explain it.

The podcast version is here

It is also available on your favorite podcast platform. If your platform does not carry the podcast just enter this feed address to start following “This Week in Economics”: https://feed.podbean.com/wenzel/feed.xml –RW

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Reflections on Ron Paul’s Revolution: Taxation is Theft – The Libertarian Institute

Posted by M. C. on June 14, 2019

Economic historian, Burton Fulsom, points out that there’re two types of entrepreneurs: market and political. Market is the entrepreneur based in the private sector, whereas political is lobbying the government for your free goodies that are provided via stealing from the American taxpayers.

https://libertarianinstitute.org/articles/reflections-on-ron-pauls-revolution-taxation-is-theft/

By

Mr. Pseu

Ron Paul’s Revolution: A Manifesto, is without a doubt a cornerstone and gem in Libertarian literature. Some might call it a “soft landing”, but it’s a fantastic entry into exploring Libertarian thought in a perfectly succinct, enlightening, genius way. No offense to Human Action, but to hell with Human Action! I’m joking of course, but this little guy at a whopping 186 pages (if you include the edition with a chapter on the economic crisis) covers all the basic principles of liberty ammunition for any debate, enlightening conversation, and just straight up knowledge to make you a little less dumb…

In Chapter 4: Economic Freedom, I like to think of this as Ron Paul’s “taxation is theft” chapter, but the Super Saiyan form in an eloquent Ron Paul, Southern Gentleman fashion.

In a free society, or economy in this case, everyone has a right to their life and property. Likewise, you don’t have the right to infringe on anyone else’s property. Don’t hurt people, don’t take their stuff. The government is hurting you by forcing you to pay taxes.

The system is set up where people try to use the government to dominate each other. It’s a welfare pissing contest. The people shouldn’t let government do things that individuals couldn’t get away with (taxation = theft, conscription is slavery, war is mass murder, etc.). Let’s not forget, the poor aren’t the only ones who benefit from the state’s free goodies. The rich manipulate government too. Ron Paul explains that “the rich are more than happy to secure for themselves a share of the loot – for example, in the form of subsidized low-interest loans (as with the Export-Import bank), bailouts when their risky loans go sour, or regulatory schemes that hurt their smaller competitors or make it harder for new ones to enter an industry.”…

Government power should just be used to protect individual rights: life and property, NOT control the economy. That’s OUR job as consumers by voting with our dollar in the free market to say what goods will be provided and a what price. We dictate supply and demand. This creates competition amongst businesses to decrease cost and increase quality. Government only distorts this beautiful equilibrium…

“Given that the politically influential and well connected – neither of which includes the middle class or the poor – are the ones who tend to win privileges and loot from the government, I do not understand why we take for granted that the net result of all this looting is good for those who are lower on the economic ladder.”

-Ron Paul

…Like income tax, the draft is a form of slavery. Those appendages of the state basically legitimize that they own you and you don’t own yourself. You’re not allowed to make decisions for yourself. That’s not freedom. That is slavery. The government will just pity you and let you keep some of the leftovers after you earn it, HOWEVER you earn it! This isn’t how a free society prospers because individuals need as much capital as possible to invest and make an economy blossom. Government prevents this from happening through intervening via taxes, regulations, lobbies, tariffs, sanctions, you name it. Ending the income tax all together and not replacing it with anything at all would cut government revenue (wasted tax payer money) buy 40%, but this idea isn’t discussed because it would destroy the state if placed on the surface in the public eye…

It’s up to us as individuals to find the alternatives to government. That’s why you have economists like Mises who advocate for the Austrian School of Economics. This school of economic thought is based off embracing the free-market. Austrian economics is the sword to slay the dragon of the state. Private actors and entrepreneurs voluntarily making decisions based on their emotions, needs, subjective value, and self-interest. This is the only economic system which will make us the most free.

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propertyn tax

 

 

 

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Attention High School Seniors – LewRockwell

Posted by M. C. on February 6, 2019

https://www.lewrockwell.com/2019/02/walter-e-block/attention-high-school-seniors/

By 

You are now in the midst of applying for admission to university. Here is a letter from an unhappy college student which may be of relevance for the choices you are now making:

My name is XYZ. In my current university, numerous professors label me as a cultist and an ideologue, as I am a student of the Austrian school; put simply, I am also an anarchist. My question is, why do mainstream economic/political science professors label students of the Austrian school as cultists? Is it because we neglect positivism as we study economics through the lens of praxeology? Moreover, I can understand how one would think Randians are cultists, but us Austrians never verbally shout “no you’re wrong, get out of here!” — as Rand would do.

Thanks for your time. Cordially, ZYZ

Here is my response to XYZ:

What school do you now attend? Is there any chance of you transferring to Loyola? See below.

Now to answer your question. Read the rest of this entry »

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