Saturday, December 6, 2008

"We the people" to keep the fruits of our labor

Following digest of another article was published in Facebook by Robert Owen. To encourage reading by those for whom signing up to Facebook might be an obstacle, we reproduce it here. They should consider it though, as the comments section is also instructive reading.

Facebook: "Shall we learn from history?", by Robert Owen

Many liberal commentators have placed the blame for our nation's current economic difficulties on "laissez-faire capitalism," which they never define. George Reisman, Pepperdine University Professor Emeritus of Economics, insists that the term should be defined as "private ownership of the means of production [with government] limited to the protection of the individual's rights against the initiation of physical force." He would welcome a return to such a system. He states: "There are presently 15 federal cabinet departments, nine of which exist for the very purpose of respectively interfering with housing, transportation, healthcare, education, energy, mining, agriculture, labor, and commerce." Claiming that these intrusions are the underlying cause of America's economic travails, he adds, "Under laissez-faire capitalism, 11 of the 15 cabinet departments would cease to exist and only the departments of justice, defense, state and treasury would remain."

Socialism, either overt or the slightly more obtuse version practiced by today's establishment Republicans and Democrats, has been a dismal failure every time, in every culture with no exceptions. In our own history, the Pilgrims started with a socialist economy. After two years of starvation and death they were forced to try free market capitalism with individuals being able to keep the fruits of their own labor. William Bradford, passenger on the Mayflower and second Mayor of the Plymouth Plantation, records the results of the change to free market economics, "This had very good success, for it made all hands very industrious, so as much more corn was planted than otherwise would have been by any means the Governor or any other could use, and saved him a great deal of trouble, and gave far better content. The women now went willingly into the field, and took their little ones with them to set corn; which before would allege weakness and inability; whom to have compelled would have been thought great tyranny and oppression."

If our economy is to prosper again, we must stop the bailouts, end all forms of socialist welfare and once again allow "We the people" to keep the fruits of our labor. This formula made our nation the most prosperous civilization, with the most wealth to the greatest number of people, in all of history. This formula also resulted in the most charitable people in all of recorded history, caring for the sick, poor and needy in far better ways than any government program ever devised. Only a return to free market economics will prevent depression, famine and death. On this point the historical record is clear.

- Filed on Articles on "The Ethics of Capitalism" -

No comments: