American socialists not only pit workers against entrepreneurs; they also pit rich American workers against the poor workers of the rest of the world. Shame on you, socialists!
Shame on You, Socialists!
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The Value of Selfishness
"The welfare school pretends not only to stand for the interests of the whole of society as against the selfish interests of profit-seeking business; it contends moreover that it takes into account the lasting secular interests of the nation as against the short-term concerns of speculators, promoters, and capitalists who are exclusively committed to profiteering and do not bother about the future of the whole of society. This second claim is, of course, irreconcilable with the emphasis laid by the school upon short-run policies as against long-run concerns. However, consistency is not one...
Mises on Equality and Inequality
"The liberal champions of equality under the law were fully aware of the fact that men are born unequal and that it is precisely their inequality that generates social cooperation and civilization. Equality under the law was in their opinion not designed to correct the inexorable facts of the universe and to make natural inequality disappear. It was, on the contrary, the device to secure for the whole of mankind the maximum of benefits it can derive from it. Henceforth no man-made institutions should prevent a man from attaining that station in which he can best serve his fellow citizens."...
TGIF: Police-State Progressives
Progressives see themselves as, well, progressive. But they aren't. Even at their best, in opposing the national security state, they support massive government power in other realms of life. At heart they are social engineers. They seek a "moral equivalent of war," that is, regimentation without bloodshed. They are even anti-democratic when it suits them. We can see all of this through the eyes of Ludwig von Mises. This is from his book Planned Chaos (1947; free audiobook here). Mises, of course, championed the unhampered market economy, or laissez-faire capitalism. He wrote: In the market...
The Worker as Free Person
"In the market economy the worker sells his services as other people sell their commodities. The employer is not the employee’s lord. He is simply the buyer of services which he must purchase at their market price. Of course, like every other buyer an employer too can take liberties. But if he resorts to arbitrariness in hiring or discharging workers, he must foot the bill. An employer or an employee entrusted with the management of a department of an enterprise is free to discriminate in hiring workers, to fire them arbitrarily, or to cut down their wages below the market rate. But in...
Labor as Commodity
For the individual actor, "as for everyone, other people’s labor as offered for sale on the market is nothing but a factor of production. Man deals with other people’s labor in the same way that he deals with all scarce material factors of production. He appraises it according to the principles he applies in the appraisal of all other goods. The height of wage rates is determined on the market in the same way in which the prices of all commodities are determined. In this sense we may say that labor is a commodity. The emotional associations which people, under the influence of Marxism,...
Some Things Never Change
"The condition upon which God hath given liberty to man is eternal vigilance; which condition if he break, servitude is at once the consequence of his crime and the punishment of his guilt.” --John Philpot Curran, Irish statesman, 1790
TGIF: That Was the Election that Was
One can be overjoyed by the repudiation of a candidate without being pleased with the opposing candidate's victory. This election is an occasion for that reaction. An American (or anyone actually) is perfectly justified in taking pleasure in Kamala Harris's humiliating defeat while anguishing over the intemperate Donald Trump's impressive win. As I like to say, every election has good and bad news: the losers lost but the winners won. That's where I am today if anyone cares to know. I rejoice at the defeat of Harris and virtually all that she stands for, while also realizing that some of the...
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