MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Free Market’

EconomicPolicyJournal.com: A Sophisticated Defense of Free Market Capitalism (From a Former Governor)

Posted by M. C. on March 13, 2019

The blind pig (WSJ) finds an acorn.

https://www.economicpolicyjournal.com/2019/03/a-sophisticated-defense-of-free-market.html

Wow, who has the ear of former Louisiana governor Bobby Jindal?

In a Wall Street Journal op-ed piece, he has written a pretty sophisticated defense of free market capitalism.

A key snippet:

Liberal politicians, abetted by the mainstream media, regularly document the alleged shortcomings of free-market capitalism. Politicians like Sen. Bernie Sanders and Rep. Alexandria Ocasio-Cortez point to rising inequality and a supposed lack of upward mobility to make the case for socialism. Today, American Democrats have a more positive view of socialism than capitalism, and less than half of young adults have a positive view of capitalism. But the debate isn’t merely between left-wing socialists and right-wing capitalists. Even President Trump argues that capitalism generates prosperity abroad at the expense of American workers. Years of wage stagnation and diminished economic prospects have soured many Americans on the system that made the U.S. the world’s largest economy…

The problem isn’t market dynamics, but the increased government intervention in the economy that discourages competition. Rather than relying on innovation, many companies often now seek to exploit licensing arbitrage opportunities and engage in other rent-seeking behaviors. They try to beat competitors through regulatory capture and crony capitalism rather than making better products for less.

Almost every large company has calculated the benefits of lobbying government. It is no coincidence that the seemingly recession-proof Washington area dominates the list of the nation’s wealthiest counties. For consumers, this means fewer meaningful choices. For new producers, the goal is often not to displace an incumbent firm but to be purchased by one. Even many tech entrepreneurs hope to sell to Google or Facebook rather than become the next big thing…

Some argue that targeted government economic intervention is necessary to fix capitalism’s errors and prevent more-radical political elements from gaining power. Some historians credit President Franklin D. Roosevelt with saving free markets from rising support for socialism fed by the Great Depression. They argue the New Deal, by dramatically expanding the role of government, vaccinated capitalism against a more virulent form of socialism propounded by Huey Long and others. More-moderate modern leaders than Mr. Sanders and Ms. Ocasio-Cortez see today’s economic challenges as profound and argue they warrant similar inoculating shots of regulation.

These recommendations come from all across the political spectrum. Sen. Marco Rubio proposes paid parental leave, while Manhattan Institute scholar Oren Cass argues that some short-term growth should be sacrificed to strengthen families and prepare communities for long-term growth. President George W. Bush labeled his version of this approach “compassionate conservatism.”

Democrats, meanwhile, argue for a higher minimum wage, a more progressive income-tax code, stronger unions, and ObamaCare’s Medicaid expansion and exchange subsidies as the best alternative to a single-payer system. Others have pushed for breaking up larger companies—especially tech giants—expanding the earned-income tax credit, raising tariffs, and adopting a universal basic income as possible responses to the displacement caused by globalization and automation.

Small-government conservatives and their libertarian brethren still reject these notions. The biggest threat to American capitalism, they say, comes from liberalism and its incremental—but constant and accumulating—push for a larger, costlier and more powerful government. They see reform proposals from moderate Republicans as attempts to be partway pregnant. They wonder why the GOP would want to become a weaker, cheaper version of the Democratic Party. Free-market Republicans argue that conservatives should be consistently pulling in the direction of lower taxes, less regulation and smaller government.

RW

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How The Shutdown Can Be Used – LewRockwell

Posted by M. C. on January 12, 2019

https://www.lewrockwell.com/2019/01/allan-stevo/how-the-shutdown-can-be-used-to-make-air-travel-safer/

By 

We would never entrust a government functionary to secure the transport of valuable personal treasures like a Picasso or the Hope Diamond or a Faberge egg. There is a distinguished marketplace of professionals that handle that field far more adeptly. Then why do we trust a government functionary with securing our most vital form of long distance travel?

As all too many of us intimately recall, not only are planes able to be hijacked to the detriment of all on board, they can be used as guided missiles to the detriment of those on the ground, as was the case in the 9/11 attacks.

For some reason, rather than recognizing the failure of the quasi-governmental system and pushing government further out of the airline security process after the post 9/11 failures, we turned to the ever ineffective government to further step in to air travel security…

TSA Isn’t Doing Their Job, Isn’t Getting Paid, Now Is A Perfect Opportunity To Dissolve The TSA Read the rest of this entry »

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EconomicPolicyJournal.com: Major League Baseball’s Disgusting Deal With the Government of Cuba

Posted by M. C. on January 1, 2019

America’s Game!

Another Asterisk in the baseball record book. Pro sports in general stinks.

I liked it better when players smoked, played with hangovers and set records.

http://www.economicpolicyjournal.com/2018/12/major-league-baseballs-disgusting-deal.html#more

MLB has cut a deal that will keep the bidding for Cuban players below free-market levels which will also result in MLB collecting taxes from Cuban players for the Cuban regime.

Mary Anastasia O’Grady explains:

Major League Baseball has cut a deal with the Cuban military dictatorship in which Havana will allow Cubans to play in the U.S. In exchange baseball will garnish their salaries and send the money to the regime…

The regime already boasts the world’s largest state-run human-trafficking operation. For decades it has placed Cubans abroad to work for foreign companies or governments as indentured servants. Workers go “voluntarily” because their economic circumstances at home are so dire and they have no other options. But once abroad they receive a small fraction of what they earn; the rest goes to the Cuban state…

RW 

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EconomicPolicyJournal.com: Amazon Makes an Evil Move

Posted by M. C. on October 3, 2018

http://www.economicpolicyjournal.com/2018/10/amazon-makes-evil-move.html#more

Amazon today announced it is increasing its minimum wage to $15 for all full-time, part-time, temporary (including those hired by agencies), and seasonal employees across the U.S.—effective November 1.

This is fine, Amazon should be able to play its employees whatever it wants.

But here is where they turn evil. In a press release announcing the wage hike, the company also states: Read the rest of this entry »

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The Free Market Will Take Care of Companies – LewRockwell

Posted by M. C. on August 10, 2018

In a free market, you express your opinion by refusing their services or products. You can boycott them or participate in boycotts. You can criticize them in media. You can patronize competitors. There are competitors right this minute for these censoring companies.

Their names are easy to find 

https://www.lewrockwell.com/2018/08/michael-s-rozeff/the-free-market-will-take-care-of-companies-that-censor-content/

By 

Facebook, Twitter, YouTube et al who are censoring people and content have a right to do that. Calling them monopolies or public utilities is the wrong way to go. Stressing their “power” is the wrong way to go, by which I mean it contradicts libertarian thinking about products and free markets. Worrying about free speech in the context of their censorship is likewise a losing and flawed argument. Forcing companies to provide a forum of free and/or diverse speech is not compatible with freedom… Read the rest of this entry »

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Should Teachers Be Armed? – LewRockwell

Posted by M. C. on February 23, 2018

WARNING! Free market, Austrian-Libertarian economic analysis.

https://www.lewrockwell.com/2018/02/michael-s-rozeff/should-teachers-be-armed/

Should teachers be armed? This question is premature. In today’s monopoly law enforcement systems funded by forced extractions of money from taxpayers, lawmakers will answer this question. There will be public debate, such as is now occurring. Lawmakers will hear the arguments and they will decide. Their decisions will, however, not be according to criteria that relate directly to the welfare of the children of their citizens. The incentives faced by lawmakers will not create such a connection in the clarity that the citizens demand. The system is bound to frustrate the citizens. Read the rest of this entry »

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Do We Have a Free-Market Medical System? | Mises Wire

Posted by M. C. on January 23, 2018

https://mises.org/wire/do-we-have-free-market-medical-system

…Here is how it actually works:

  1. Most people wonder why there are no visible prices in medicine. You only find out what the charge has been after the service has been delivered. There actually are prices — controlled prices — but you aren’t supposed to know what they are. Each year a committee of the American Medical Association recommends a set of prices to Medicare. The committee is dominated by medical specialists, so specialists tend to do particularly well. Medicare is actually run, not by government, but by private insurance companies, and these companies adopt these prices for private insurance purposes as well. Congress further sweetened this price controlled system for hospitals by requiring Medicare to pay more for the same service if provided by hospital employees. This has inevitably led to local hospitals buying out most of the surrounding private medical practices, which has in turn created local medical service monopolies that feed patients to the hospital for its more costly services.

Read the rest of this entry »

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Whose Ideas? – EPautos – Libertarian Car Talk

Posted by M. C. on January 5, 2018

I wonder whose idea it was to mount all those expensive lights, cameras and sensors I don’t want to pay for in bumpers?

https://www.ericpetersautos.com/2018/01/04/whose-ideas/

It’s been said that good ideas don’t require force – while bad ones rarely get traction without it. True enough. But how about a qualifier?

Whose ideas?

Yours? Mine?

There is a kind of tacitly agreed upon – or at least, rarely questioned – notion that we all agree on what constitutes a “good” idea. It’s the keystone of coercive collectivism, without which that ideology loses moral legitimacy.

But in fact, we don’t agree about what a “good” idea is. Millions of individual Read the rest of this entry »

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How the Market Creates Jobs and How the Government Destroys Them (Full Edition) | Mises Institute

Posted by M. C. on March 8, 2017

https://mises.org/library/how-market-creates-jobs-and-how-government-destroys-them-full-edition

Why the free market works and government diktats don’t.

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Janet Yellen – Fed Central Planner

Posted by M. C. on September 19, 2015

The hallmark of free market theory is that no one person or group (central planners) can decide how to allocate resources. Only the actions of consumers can put a value on any given resource. Resources, finished products even the dollar can only have its value determined by aggregate demand. The opposite of this is central planning. The most glaring example of central planning was the Soviet Union. Read the rest of this entry »

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