MCViewPoint

Opinion from a Libertarian ViewPoint

Posts Tagged ‘Road to Serfdom’

David Stockman on Scientism and the New Road to Serfdom

Posted by M. C. on February 13, 2022

These claims amount to invented science based on large theories of how the world works, which are essentially goal-seeked. That is, they first posit the climate, public health and economic models that inherently require heavy-handed state intervention to prevent catastrophic outcomes, and then they array the evidence and projections to validate the predicate.

By David Stockman

It’s long past time for conservative folks to wake up. Today’s great threat to capitalist prosperity, personal liberty and constitutional government as we have known it is not Marxism, socialism or any other variant of traditional left-wing ideology.

The real threat to liberty is more generic. Rather than a specific history-rooted ideology, such as the working class socialism of the early industrial era, the foundational threat has always been the aggrandizement of the state, and the empowerment of the political classes and nomenklatura that thrive upon it, whatever the ideology upon which they justified their will-to-power.

And today the vehicle for that impulse of statist expansion is Scientism — the false claims that economic science, public health science and climate change science, among others, require sweeping increases in state intervention and control.

This proposition is not merely a grand abstraction. The recently passed $7 trillion in stimmies, bailouts and infrastructure boondoggles, the Biden Administration’s claims that we have just nine years until irreversible climate disaster, and the ongoing depredations of the COVID Virus Patrols are real time instances of Scientism at work — unnecessarily and destructively extending the long arm of the state deep into daily economic and social life.

There is no valid science that calls for either the extinction of fossil fuels, or lockdowns to stop the spread of a virus like those that have afflicted mankind since time immemorial, or massive monetary and fiscal stimulus to keep capitalism from plunging into the drink.

These claims amount to invented science based on large theories of how the world works, which are essentially goal-seeked. That is, they first posit the climate, public health and economic models that inherently require heavy-handed state intervention to prevent catastrophic outcomes, and then they array the evidence and projections to validate the predicate.

For example, the natural climate change now underway — as it has been for 4.5 billion years — is essentially benign, not catastrophic. Current warming is nothing new — it’s happened repeatedly from the Medieval Warm Period (900–1300 AD) to the Roman Warming (200 BC to 300 AD) to the Holocene Climate Optimum (7,000–3,000 BC) and on back in countless unnamed cycles reaching deep into the history of the planet.

Contrary to the false claims of the climate howlers —

  • current mildly rising temperatures are in keeping with the historical truth that warmer is better for humanity and most other species, too; and
  • climate cycles are a function of powerful planetary forces, such as the eccentricity of the earth’s orbit, which causes ice ages in 100,000 year intervals, and solar irradiation oscillations, which modulate cosmic rays and cloud formation. These forces have shaped the earth’s climate for eons and long preceded and massively exceed the impact of industrial era CO2 emissions;

Continued planetary equipoise requires no interventions whatsoever by the state to retard the use of prosperity-fostering fossil fuels or to subsidize and accelerate the adoption of high cost renewable energy.

Editor’s Note: We’ve seen governments institute the strictest controls on people and businesses in history. It’s been a swift elimination of individual freedoms.

But this is just the beginning…

Most people don’t realize the terrible things that could come next, including negative interest rates, the abolition of cash, and much more.

If you want to know how to survive what the central bankers and the Deep State have planned, then you need to see this newly released report from legendary investor Doug Casey and his team.

Click here to download it now.

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

EconomicPolicyJournal.com: Council of Economic Advisers Goes Woke and Calls for Massive New Government Control and Spending

Posted by M. C. on May 14, 2021

Further, they fail to understand another crucial point that Hayek made. This one in Chapter 10 of his book The Road to Serfdom. In the chapter, Hayek makes clear that the planned society results in the worst getting on top.

When you create government power centers, be it for new technologies, family support, education or whatever, the most evil will do what it takes to get close to such power and twist the power for their own benefit.

This is the horrifying direction that the CEA is justifying in this Brief.

https://www.economicpolicyjournal.com/2021/05/council-of-economic-advisers-goes-woke.html

The Biden Administration Council of Economic Advisers has issued a Brief attempting to justify more government spending, a greater role for the government in the economy, mixed with woke positioning.

Some key snippets from the horrific paper (COUNCIL OF ECONOMIC ADVISERS ISSUE BRIEFMAY 2021):

The opening pargarapgh: 

For the past four decades, the view that lower taxes, less spending, and fewer regulations would generate stronger economic growth has exerted substantial influence on U.S. public policy. Over this period, the United States has underinvested in public goods such as infrastructure and innovation, and gains from growth have accrued disproportionately to the top of the income and wealth distribution. Long-standing racial, ethnic, and gender disparities persist. In addition, while historic progress has been made in expanding health insurance, more remains to be done to provide adequate protection against economic risk. Indicators of deprivation, such as child poverty, are too high, and declines in overall life expectancy in some years prior to the pandemic, accompanied by increased disparities, are cause for concern.

And the start of the call for more government involvement in the economy: 

The economic theory underlying President Biden’s American Jobs Plan and American Families Plan is different. These proposed policies reflect the empirical evidence that a strong economy depends on a solid foundation of public investment, and that investments in workers, families, and communities can pay off for decades to come…

In order to function and deliver strong and shared economic gains, markets need an engaged, effective public sector. From policies that spur innovation and facilitate labor supply to those that provide investments in children and protections against economic insecurity, the public sector has an important role to play in supporting the economy.

There is a call for government supported and managed technology development: 

Innovation—and the new technologies that result from it—drives growth, and the public
sector plays a pivotal role in that process…

Public support for research and development is essential to achieving an appropriate level of innovation…

There are also times when the public sector has to consider the composition of what is produced or how it is produced. 

 Then the Brief goes woke.

An economy where economic gains are not shared is one that is not delivering on its full promise to those who do the work of producing economic output…

Investments in children are a powerful force for equity…

Investing in children will thus not only deliver improved outcomes and faster growth, it will also advance equity by narrowing racial disparities and reducing child poverty.

The public sector plays a crucial role in ensuring that communities are not left behind…

New forms of protection against economic insecurity are necessary to ensure that
unavoidable risks do not become avoidable economic pain. Research finds that social
insurance programs not only directly reduce hardship and financial risk, they also moderate
economic downturns, improve health, and save lives. Investments in expanded social insurance would build on a long tradition of American social insurance programs, including unemployment insurance; Social Security; and Medicare, Medicaid, and the Affordable Care Act.

In short, the Brief from start to finish is justifying a move away from freedom and individual initiative and in the direction of the idea that the state must act as the director of economic activities and outcomes. It is far along the way to a vision that is fundamentally anti-American and in the direction of planned societies that have delivered such horrors as the National Socialist German Workers’ Party, the Soviet Union, and Mao’s China.

It is a Brief that shows naive thinking that Hayek warned about when he stated that “The curious task of economics is to demonstrate to men how little they really know about what they imagine they can design.”

It appears that none of the Biden economists at the CEA understand any of this. They appear to truly believe they can design the economy.

Further, they fail to understand another crucial point that Hayek made. This one in Chapter 10 of his book The Road to Serfdom. In the chapter, Hayek makes clear that the planned society results in the worst getting on top.

When you create government power centers, be it for new technologies, family support, education or whatever, the most evil will do what it takes to get close to such power and twist the power for their own benefit.

This is the horrifying direction that the CEA is justifying in this Brief.

It is a recipe for a collapsing standard of living coupled with more state authoritarianism.   –RW

Be seeing you

Posted in Uncategorized | Tagged: , , | Leave a Comment »

“The End Of Truth” – Hayek Saw It All Coming Over 70 Years Ago

Posted by M. C. on March 30, 2017

http://www.zerohedge.com/news/2017-03-28/end-truth-hayek-saw-it-all-coming-over-70-years-ago

 “Although the beliefs must be chosen for the people and imposed upon them, they must become their beliefs, a generally accepted creed which makes the individuals as far as possible act spontaneously in the way the planner wants. If the feeling of oppression in totalitarian countries is in general much less acute than most people in liberal countries imagine, this is because the totalitarian governments succeed to a high degree in making people think as they want them to.”[p.171]

Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »