In
this troubled world of much noise and low light, I think we should focus
on values that made prosperous and rich
the Western world. I wrote the annexed text to
focus on values that have proved valid along time. I am pleased to offer these
ideas for discussion. Comments are welcome.
The
thoughts below are focused on 3 tragedies of human
civilization: in Syria, in the USA and in Brazil. I seek to find a common
denominator between them, pointing out to the origin of the spurious
relationship of politics and economics and the futility of the
intervention of Governments. The proposed solution
is based on a new Social Pact where is predominant the philosophy of the
Austrian economic theory, and discarded into the trash of history is the
Keynesian influence. My insertion of quotes from wise thinkers
throughout the text aims to take advantage of the experience of
scholars and statesmen – they had circumstantial reasons to
summarize their rich experiences in a few words, and that should serve as a compass
for generations to come.
"Reconciliation with
reality"
(Versöhnung mit der
Wirklichkeit )
More freedom
less government
More Mises
less Keynes
I was dismayed with the
photo of the 3-year-old Syrian boy found dead on the beach, his face
on the Turkish beach sand, dressed up, angel hair, shoes without
socks. We sent him
back from this world, this little angel just arrived,
without giving him an opportunity to show his talent: who
knows he wouldn't be a Leonardo da Vinci, a Luciano Pavarotti or Andre Rieu,
and mesmerize the world?
His
Family was looking for new
opportunities, in the insane condition of those who are in this world, without
a place in it. They left a whole life behind, with an uncertain
future ahead. They were trading certain death for a probable one. How can
any heart stand such anguish!
I show below the refugee crisis plaguing the
world, and the causes of this tragedy:
“Many people sympathize with the refugees, of course,
and would like to help them. The question is how to do it without
infringing on the interests of the residents
of the countries where the refugees are moving. Meanwhile,
a massive
uncontrolled shocking clash of different lifestyles can lead,
and already is leading to growing nationalism and intolerance,
to the emergence of a permanent conflict in society” - President of Russia Vladimir Putin, regular meeting of the Valdai
International Club - October 19 and 22, 2015 - experts from 30
countries - War and Peace
Former US Senator Ron Paul (R-TX) set with rare mastery and his usual
wisdom the responsibilities for this tragedy: " The reason so many
are fleeing places like Syria, Libya, Afghanistan, Iraq is that American
and European foreign interventionists left these destabilizing countries with
no hope of economic recovery. This mass migration from the Middle East and
beyond is a direct result of the neocon foreign policy of invasion and regime
change by pushing "democracy" in the barrel of a gun ".
He concludes by recommending to the
interventionists: "stop meddling in the Affairs of other
countries. Embrace the prosperity that comes with a peaceful foreign
policy, not the poverty that goes with running an empire. End of the
Empire "- The Real
Refugee Problem – And How To Solve It -9/6/2015- RonPaul Institute
We will migrate
to another tragedy, the U.S.
government debt never seen in the past, where children born today are
already in debt for unaccountable actions that transfer their problems to the
next generations. To sacrifice the future to have an
advantage in the present is an inconsequential action.
Ron Paul's conclusion is
definite: "Deficits mean future tax increases, pure and
simple. The increase of deficits should be seen as a tax on future
generations, and the politicians who create deficits should be
condemned as creators of taxes".
Reagan adds his fine irony:
"Government is like a
child. An alimentary canal with a big appetite at one end and no sense of
responsibility at the other”.
Reagan’s eight years per capita GDP adjusted for
inflation rose 3.5 percent per year. Compared to 0.7 percent in the previous
eight years and 1.5 percent in the following eight years. For those who support
America’s wealth “can be attributed” to regulation. Well, sure, it “can be
attributed” to Zeus - OCTOBER 19, 2015 Peter St. OngeRobert
Shiller Is Shilling for Socialism
Migrating to corruption
in Brazil, this fabulous diversion of resources that embarasses
everyone, the cruelest crony school in economics. Hegel, the prolific german thinker, rolling
over in his grave, must be "howling
with the wolves" and reviewing his
concept of the State as the Supreme creation of human ethics!
Corruption in Brazil makes real the ironic
observation that Governments are composed of two groups. One half is
incompetent and the other is composed by people who are capable of
anything.
Important to differentiate concepts:
Free
market economy refers to
a system of production and exchange that is based on the law, on equal rights
for all, freedom of choice, freedom of trade, freedom to innovate, guided
by profits and losses, and the right to enjoy the fruits of one’s own labour. It
operates with the spontaneous
interaction of individuals, free from the restraints of the State,
when no other system is forced on the population. It's as natural as the
seasons and the presence of gravity. Meeting the
needs of others is essential, and the most successful competitors in the free market are those who best
meet the needs of others, with more effectiveness than any charity
institution. You
make money by doing what other people want, not what you want.
“All the charitable
institutions in the world over the course of the last decade have not met as
many needs as the market meets in a single hour” Capitalism, Socialism, and the
Pope - By John C. Goodman.
“Social and economic freedom is
not just the best policy for a free people, it is the indispensable framework
for the future”. The Cato Institute
Crony
Economics refers to spurious exchanges between producer interests and politicians
and bureaucrats who seek power at any cost, who do not disdain
alliances with fraud, cheating and corruption. The King's friends are
investing more in politics than in economics, real whores who sell
their brain instead of the body. Reagan defined this with remarkable
irony: "it has
been said that politics is the second oldest profession. I learned that
it bears a striking resemblance to the first. The experienced Kissinger said: "ninety percent of the politicians give a bad
reputation to the other ten percent".
This clash between pro-market
and pro-business is an old one. Adam Smith wrote “The Wealth of Nations” to
denounce mercantilism, the crony capitalism of his day. Milton Friedman said at a 1998
conference: “There’s a common
misconception that people who are in favor of a free market are also in favor
of everything that big business does. Nothing could be further from the truth.”
Fortunately, the Brazilian society
presented efficient antidotes, thanks to the competence and determination of Judge Sergio Moro and his team of young Attorneys who are
rescuing the dignity of all the people. "Worst of all, systemic corruption impacts the
sense of self-esteem of a people. An entire people who pays a bribe is a people
without dignity".
The
old and decadent judicial system is being humbled by the competence,
intelligence and pragmatism of this new generation.
A sign of Bankruptcy of the decadent righteousness that demeans an
entire society, is to allow outstanding sports leaders to walk on a red carpet
at home and to wear handcuffs abroad.
This
spurious relationship of politics and economics grew with the legislation
of the New Deal (regulatory
explosion) of F.D. Roosevelt
(1933-45), American President during four terms, as a function of the circumstancial
need of interventionist measures to mitigate the effects of the economic crisis
of the 30's and of World War II
“But once FDR came to power, he enacted the longest string of
cockamamie, prosperity-killing measures of any president in American history.
The economy still hadn't recovered
from World War II, a war that didn't help the economy or get us out of the
Great Depression. It prolonged the government-made pain”. - The Great Depression and the New
Deal - by Murphy, Robert P.
Steven
Horwitz, Professor of Economics at the
University of Saint Lawrence, brings to light the period of the Great
Depression: "In spite of the strong
evidence, of Hoover's beliefs for his actions as President, of the remarks
by his contemporaries and modern historians, the myth persists that Hoover was
an example of laissez faire. Of
all Presidents, Herbert Hoover was one of the most active in intervening in the
economy”. President
Hoover (1929-32), though famous for his "laissez faire", seems to have inspired the New Deal
"Don't
forget that I discovered that over ninety percent of all national deficits,
from 1921 to 1939, were caused by payments for past, present and future
wars." Franklin D. Roosevelt
"No Government voluntarily reduces its size.
Government programs, once released, never disappear. Really a Government
Office is the closest thing to eternal life we always see in this world
". Ronald Reagan
An example
was the New Deal Act of 1933, that sought to cartelize almost
all industries in the U.S., in the belief in human intervention on the laws of
the market. Within this dominant spirit, appeared in 1936 the "General theory of
employment, interest and money", by the Englishman John Maynard Keynes, who legitimized the false assumption that it was possible to use the
iron hand of the State to direct or manage the market. Created in this way,
there came a partnership of bureaucrats and politicians seeking to act on the
market. As if this were not enough, Keynes was the key figure at the
meeting of 44 countries and world economic leaders, held in the bucolic
american town of Bretton Woods for 3 weeks in July, 1944. There was
created the World Bank, together with the International Monetary
Fund. This meeting, little more than 1 year before the end of World War
II, defined and legitimized government intervention in the economy worldwide
and attracted the massive membership of participants. You need to
understand the circumstances of the time: a world destroyed by war,
unemployment in high concern and the dismay of entire populations clamoring for
hope. The interventionist theory of Keynes supplied this demand, strongly
stimulated by the F D Roosevelt's New Deal. Let's see the main advice of Keynes:
"We
must, therefore, establish effective instruments of State economic policy,
enabling it to adjust the interest rate in order to keep it below the"
marginal efficiency of capital ", increase consumption through the
expansion of public expenditure and expand investment by means of public loans
able to absorb idle resources."
“In the early stages of the Keynesian
revolution, macroeconomists emphasized fiscal policy as the most powerful and
balanced remedy for demand management. Gradually, shortcomings of fiscal policy
became apparent. The shortcomings stem from timing, macroeconomic theory, and
the deficit itself”. - Paul Samuelson, Economics (15th ed.) [1995]
“What surely ought to happen is
what happened in the now-rich world, where countries developed in their own
way, in their own time, under their own political and economic structures. No
one gave them aid or tried to bribe them to adopt policies for their own good. What we need to do now is to
make sure that we are not standing in the way of the now-poor countries doing
what we have already done. We need to let poor people help themselves
and get out of the way—or, more positively, stop doing things that are obstructing
them”.
- The
Great Escape, Princeton University economist Angus Deaton - 2015 Nobel prize in
economics
It would be unjust to evaluate the contribution
of Keynes based on one isolated quote, if only because the circumstances
favored emotional decisions in a desperate attempt to generate
jobs. Strengthening aggregate demand through taxes and fees, only transfers
resources under the invariable law of the market to the questionable field
of human will. It
creates more jobs in government bureaucracy by subtracting those from the
private sector, or it creates a big parasitic
system, fully supported with our taxes. Something like: "Everything for the people, but without the
people". This is enlightened despotism
This is exactly what has happened in this dumb
world of dictatorship of the bureaucracy, the most terrible form of human
bondage. The world needs
to walk in the opposite direction: to strengthen the private
sector and reduce bureaucracy.
"The passion has helped us; but you can't
do more than that. In the future it will be our enemy. Reason, cold,
calculating and dispassionate, must provide all materials for our future
support and defense." Abraham Lincoln
"In the development of a system that we hope
will last for a long time, we must not lose sight of the changes that time will
produce." James Madison
“One of the great mistakes is to judge policies and
programs by their intentions rather than their results. We all know a famous
road that is paved with good intentions” Milton
Friedman
But this created an indigestible mix of politics and economics, which are separate areas by nature.
But this created an indigestible mix of politics and economics, which are separate areas by nature.
Economics
allows the appropriation of resources when the agents are regulated by the
inexorable law of supply and demand.
Politics
is an art where the human will prevails.
With this the economy lost the condition of a science
and should be assisted by psychology, sociology and anthropology, even while in
politics was introduced a dependency ratio, anti democratic par excellence,
where the luck of
the governed depends on the virtue of the rulers.
However, the most significant was the false belief
in the ability to manage markets, something similar to attempting to supervise
the law of gravity-an impossibility in nature. Development doesn't
happen by external intervention, it happens from the inside out.
The application and practice of Keynesian
interventionism is affecting each individual on the face of the Earth, and has
been the most damaging and devastating human action. We're wasting all the efforts made by civilization
in centuries. Mankind is digging its own grave.
“When the ‘conditions for
development’ are present, aid is not required. When local conditions are
hostile to development, aid is not useful, and it will do harm if it
perpetuates those conditions.”
“The negative forces are always
present; even in good environments, aid compromises institutions, it
contaminates local politics, and it undermines democracy. If poverty and
underdevelopment are primarily consequences of poor institutions, then by
weakening those institutions or stunting their development, large aid flows do
exactly the opposite of what they are intended to do. It is hardly surprising
then that, in spite of the
direct effects of aid that are often positive, the record of aid shows no
evidence of any overall beneficial effect”. - The Great Escape, Princeton University economist Angus Deaton - 2015 Nobel prize in
economics
“If ye would go up high,
then use your own legs! Do not get yourselves carried aloft; do not seat yourselves on other people's
backs and heads!” - Friedrich Wilhelm Nietzsche, Thus Spake
Zarathustra [1883-1891]
In the
three tragedies focused above: refugee crisis, government debt and corruption,
the main responsibility lies in the financial empowerment of the State,
legitimized by Keynes' interventionist theory.
How irresponsible, senseless and
inconsequential it was to preach a system without balance and sustainability, a bottomless pit: the government
could acquire debt and spend willfully, because this would create jobs,
even if the jobs created meant to bomb children and the elderly in a foreign
country, to fill the coffers of political parties so that they
could buy consciences and stay in power. This is all that the
powerful of those times wanted to hear: someone credible among scholars,
who would justify and legitimate the inconfessable human will that has
permitted to do terrible things that seem to come from hallucinated fanatics for power, "from the stingingly visionary to
the psychically disturbed", to use the words of the competent
English historian Eric Hobsbawm.
“We have grown up as a nation, respected for our free
institutions and for our ability to maintain a free and open society.
There is something about the way the CIA has been functioning that is casting a
shadow over our historic position and I feel that we need to correct it”.
Former President Harry S. Truman, in an op-ed published in the Washington
Post on December 22, 1963
"In a country where the
only employer is the State, the opposition means death by starvation. The
old principle of who does not work does not eat is replaced by a new principle:
who does not conform does
not eat ". Hayek
“The government
consists of a gang of men exactly like you and me. They have, taking one with
another, no special talent for the business of government; they have only a talent for
getting and holding office. Their principal device to that end is to
search out groups who pant and pine for something they can't get and to promise
to give it to them. Nine times out of ten that promise is worth nothing. The
tenth time is made good by looting A to satisfy B. In other words, government
is a broker in pillage, and every election is sort of an advance auction sale
of stolen goods”. (quotation attributed to H. L. Mencken - irresistible for
libertarians)
"My readings
of history convinced me that bad government results from excessive
government". Thomas Jefferson
Since the end of World War II in 1945, the
Keynesian approach had several versions: neo, post, new Keynesianism, trickle
down or monetarism and others: structuralism, supply side economy, neo
liberalism, all of them anti market or based on the false premise of man's
ability to manage markets. In this way, the world lived a hell where these
policies are exhausted. Keynes ' model does not work, and remains
active only for lack of an alternative.
We have to admit that
we made the wrong choice, shortly after the Second World War: we were on the
proposed economic interventionism of Keynes and the liberalism of the Austrian
school. Keynesianism became the dominant economy in the world – mainstream -
with scandalous centralization of power in Governments, choking the private
initiative. The best result
achieved was a stagflation-mixture of stagnation and inflation –an insult to
human intelligence. The error is not a
tragedy, tragic is not learning from the mistake.
“It is the notion of authority that
forms the true locus of dispute between libertarianism and other political
philosophies. Libertarians
are skeptical about authority, whereas most accept the state’s authority
in more or less the terms in which the state claims it. This is what
enables most to endorse governmental behavior that would otherwise appear to
violate individual rights: nonlibertarians
assume that most of the moral constraints that apply to other agents do not
apply to the state”. The
Problem of Political Authority (emphasis added) page 178 of Michael Huemer’s excellent 2013 book.
“On the difficult issue of the proper role of
government in the economy, I am undecided, though it is clear to me that
neither total central planning nor totally unregulated laissez faire works. It
seems to me that some amount of governmental regulation is necessary, but what
that should be depends on a number of particular judgments that should be
informed both by experience and by knowledge of such matters as history and
economics. Perhaps
a fault of the Left is not always being sufficiently aware of the
practicalities of running a business or the unintended consequences of
governmental action. Perhaps a fault
of the Right is not always being sufficiently aware of the historical fact that
unmitigated laissez faire sometimes leads to injustice or that the profit motive may not be the supreme
principle of the universe. We need to learn from each other, and I
hope that this forum facilitates such learning”. – in Goodreads forum - Alan E. Johnson, author of “The
First American Founder: Roger Williams and Freedom of Conscience”, 2015 (Emphasis added)
"The problem has been developing for many
years: a kind of alcoholism in which economic society has depended
on the Government to solve all their problems. Governments promised to
end unemployment, to eradicate poverty, to mitigate the pain of aging and
disease, and even to reduce the consequences of the mistakes of bankers and
businessmen. Irresistible Promises! This was exactly what everyone
wanted. We become alcoholics, dependent on the Government, and we did
not have any idea of who would pay the price of this addiction. " Von Mises -speech at
the University of Athens in 1984)
If the market is fully liberated, as
suggested by the Austrian school, this would greatly increase the concentration
of income and the distance between rich and poor. We need to organize a new Social Pact,
having the concept
of work as a process of transformation of human energy into physical or
intellectual power. This
energy has to be ensured a priori, with nutrition, health and education,
as job contractual clauses provided by private companies to the employee and his
dependents and the government reducing correspondent taxes. From then
on, the economic theory of the Austrian school is
incomparable. Meritocracy, competition, free market, reducing the economic
power of the State, would finally result in dignity and freedom to produce and
consume. Humanism
would be an appropriate label for the regime resulting from this Social Pact,
not featuring capitalism or socialism. It will fulfill the promise of the
American Revolution –"you will never strengthen the weak by
weakening the strong". It would also fulfill the French
Revolution's promise of "liberty, fraternity and
equality"
Humanism replies mainly the
call of Pope Francis: "I would
like to encourage you to keep in mind all those persons around us, who are
imprisoned in a cycle of poverty. They must also be given hope. The fight
against poverty and hunger must be fought constantly and on many fronts,
especially on their root causes" (Pope Francis, to the American Congress,
during his visit of September, 2015.
Humanism would not instill judgment and balance in
the budget makers, bureaucrats and politicians as decision makers,
but it would systematically end deficits. It does not,
either, grant ethical and moral values to businessmen, bureaucrats
and politicians, but it would prevent corruption. It also does
not prevent Syrian families seeking better opportunities in life, but the Syrian
local entrepreneurs would generate and stimulate jobs and opportunities for
their people.
I feel a deep anguish to understand why
Hitler didn't face resistance in his own people, so civilized
and politically evolved, to the point of taking him from power. I also seek to understand why
the academic world, with
remarkable intelligences, did not condemn the Keynesian theory of government
interventions in the economy. It is hard to find a theory more
damaging and devastating to mankind.
Identifying the virus
in the social structure is a necessary condition, but the army of antivirus
must act to insulate it and neutralize it.
"In the long run even the
most despotic governments with all their brutality and cruelty are no match for
ideas. Eventually the ideology that has won the support of the majority will
prevail and cut the ground from under the tyrant's feet. Then the oppressed
many will rise in rebellion and overthrow their masters."- Von Mises
"Every
person, as Stoics said, should be first and mainly left to their own
care; and each person is certainly, in all respects, more fit and able
to take care of themselves than anyone else "- Adam
Smith
"What,
then, are the tasks of a Government? Not to regulate Commerce; Not to
educate people; Not to teach religion, not to
administer charity; Not to make roads and railways;but simply to
defend the natural rights of man.. --to protect the person and
property --to avoid the attacks of the powerful over the weak. --in
short, to administer justice. This is the natural, the
original assignment of a Government. I don't understand it should do less:
it should not be allowed to do more. Herbert Spencer, "The proper sphere of
government" [1843]
Below is a chart of the evolution of
economic thought since the 16th century.
“It is impossible to understand the history of
economic thought if one does not pay attention to the fact that economics as
such is a challenge to the conceit of those in power.
Yes, but only for sound economics – the economics of scholars such as
Adam Smith, J.B. Say, Frederic Bastiat, Carl Menger, Alfred Marshall, Frank
Knight, Fritz Machlup, Ronald Coase, George Stigler, Milton Friedman, Armen
Alchian, Yale Brozen, James Buchanan, Gordon Tullock, Leland Yeager, Harold
Demsetz, Gary Becker, Bruce Yandle, Julian Simon, Deirdre McCloskey, Robert
Higgs, David Friedman, and George Selgin (and, also, Austrians such as Mises,
Hayek, and Israel Kirzner). There are, of course, other species of economics, such as Keynesianism
and much of modern welfare economics, that assure those in power that their
conceits are justified – that the man-in-the-street’s economic superstitions
are well-grounded in reality – that sufficient concentrations of power can in fact make
miracles occur”. - page 67 of the 2007 Liberty Fund
edition of Ludwig von Mises’s 1949 magnum opus, Human Action
Russ Roberts
and John Papola are responsible for these instructive vídeos (see below) - the debate
between Keynes and Hayek is an excellent job that shows, as Mises wanted, that economic
Science must not be limited to the classroom, but can be studied by
everyone, using the available technology of communication. I sincerely
acknowledge their fantastic job of communication that enhances the importance
of the the Austrian economic theory.
I strongly suggest watching these simulated debates
between Keynes and Hayek-https://www.youtube.com/watch?v=O5jeXrKvJXU#t=21 -a rap showing their distinct
and often opposing arguments
https://www.youtube.com/watch?v=ELVbEG5qjVI - Fight of the Century: Keynes vs. Hayek Round Two (subtitled in
Portuguese)
These
2 giants of economic thought patterned civilization and our lifestyle. Hayek
is consistent and targeted towards future generations. Keynes didn't live long enough to watch the hell we
live today with his reckless theory - in the
medium term we are all dead!!
Recall
that both F.A. Hayek and Keynes predicted a crash would occur in 1929: Hayek
because interest rates were too low, Keynes
because they were too high!
Also, the simulated debate of Smith and Marx - see:
https://www.youtube.com/watch?v=QOmFyRpTvFM - Adam Smith and Karl Marx: Liberalism and socialism (Genc) – great job of
Globo Ciencia (sorry, portuguese only)
https://www.youtube.com/watch?v=WnZs9xrDM0k - Debate
of the century - Smith and Marx (EJA) – excelent job of Vanzolini Foundation –
USP/SP – Brazil (sorry, portuguese only)
Evidence for flowing water on Mars – this
opens up the possibility of life; of wonders we cannot begin to imagine. Its
discovery is an astonishing achievement. Meanwhile, Martian scientists
continue their search for intelligent life on Earth. George Monbiot,
published in the Guardian 30th September 2015
In the department of human tragedies, we can't
forget that nature gave man a penis and a brain, but insufficient blood
to make them run concurrently.
To relax after a stressful subject, watch this
masterful presentation on the celebration of the tenth anniversary of
the play "Les
Miserables." of Victor Hugo.
https://www.youtube.com/watch?v=YnmA-8IMVWw&feature=em-subs_digest - Do You Hear the People Sing- Published in January 21,
2015
Gratitude for this wonderful
world, watch:
https://www.youtube.com/watch_popup?v=KgZSrO7dzeo&feature=youtu.be - image and text that brings peace, exalts the noblest human feelings, soothes
the soul in moments of affliction,
stimulates meditation and
feeds the spirit. May such peace
of mind accompany you and your Family in this coming year!
Let us celebrate this coming year with much hope
and faith in the infinite possibilities of the human being to find, by
generations that succeed one another, the solution to our
problems. Each child who arrives in this world is a flame of hope
and renewal.
Cordially
Ronaldo
Campos Carneiro – Oct/2015
rcarneiro4@gmail.com
http://ronaldocarneiro.wordpress.com
http://rcarneiro4.blogspot.com.br
rcarneiro4@gmail.com
http://ronaldocarneiro.wordpress.com
http://rcarneiro4.blogspot.com.br
Comments
From: Alan
Johnson
Date: 2015-10-26 11:15 GMT-02:00
Subject: RE: Quote in my text
To: Ronaldo campos carneiro
Date: 2015-10-26 11:15 GMT-02:00
Subject: RE: Quote in my text
To: Ronaldo campos carneiro
Ron – The English version is fine. Although I don’t know
Portuguese, I trust you have translated it correctly. Alan
From: Ronaldo campos carneiro [mailto:rcarneiro4@gmail.com]
Sent: Monday, October 26, 2015 12:00 AM
To: Alan Johnson
Subject: Re: Quote in my text
Sent: Monday, October 26, 2015 12:00 AM
To: Alan Johnson
Subject: Re: Quote in my text
Thanks Alan I´m happy if you agreed in 30% of argues. See enclosed your
quote in english and portuguese. I appreciate your statement: profit motive may not be the supreme principle of the
universe.
Regards. Ron
Ron,
I’ve now had an opportunity to read your attachment. I do not
agree with your economic ideology (though I once was sympathetic to
libertarianism and even now see how you could come to that conclusion,
especially in the Brazilian context) and do not wish to be associated with
it. However, I would not object if you included the entirety of the
quotation (including the part you omitted with an ellipsis) as follows:
On the difficult issue of the proper role of
government in the economy, I am undecided, though it is clear to me that
neither total central planning nor totally unregulated laissez faire works. It
seems to me that some amount of governmental regulation is necessary, but what
that should be depends on a number of particular judgments that should be
informed both by experience and by knowledge of such matters as history and
economics. Perhaps a fault of the Left is not always being sufficiently aware
of the practicalities of running a business or the unintended consequences of
governmental action. Perhaps a fault of the Right is not always being
sufficiently aware of the historical fact that unmitigated laissez faire
sometimes leads to injustice or that the profit motive may not be the supreme
principle of the universe. We need to learn from each other, and I hope that
this forum facilitates such learning
I agree with some of the insights of the libertarians but disagree
fundamentally with their basic anarcho-capitalist theory (or
quasi-anarcho-capitalist theory). Nevertheless, if you include the
entirety of the quotation from me, I do not object to your using it, with
appropriate attribution, in your essay. If you just fill in the part you
have replaced with an ellipsis, it will be all right.
Alan
Alan E. Johnson
Author and Independent Scholar
History, Law, Political Science, Philosophy
_______________________