The forces that threaten the free market are many. Who dares to stop them? The advocates of the free market appear to be outgunned, though their case can be eloquently made. Every reader would profit by watching the classic FreeMarketAmerica.com video “If I Wanted America to Fail,” which summarizes the inverted policies that hamper the successful operation of our market system. And as our country depends on freedom to prosper, the gradual limitation of economic freedom suggests an even worse danger; that is, the end of political freedom. “Your country is in peril,” said New Zealand author and researcher Trevor Loudon in a recent speech for America’s Survival. “Small groups of Marxists [now] run your country,” he explained. For the labor unions were taken over by hard-core Marxists in the 1990s, and this affected the trajectory of one of the two major parties which in turn moves the country ever closer to Marxism. Day by day, moment by moment, the checks and balances of the Founding Fathers are breaking down. A highly centralized socialist system is evolving out of the old free market system; and national bankruptcy appears to be an integral part of their plan. Continue reading
Brecht Arnaert writes: 2012 has been a year of great turmoil for the euro. But our economy is not the only thing that is in crisis. Our economic theory is too, and even more so: for decades macro-economic policy has been conducted within a Keynesian framework, and while no Keynesian economist has predicted this crisis, or even is able to explain it’s causes, we are still listening to them today to get out of the mess they brought us into. I would say that this is a problem of legitimacy.
I am telling this not only as an economist. I am a defender of liberty too. What is happening in Europe right now should not only worry economists, but every freedom-loving citizen. As we speak, measures are being taken to take away our liberties in a way that Hayek described so well in his “Road to serfdom”: each government intervention requires more government intervention, until no freedom is left anymore. Step by step our property rights are being eroded, and, not too far from here, in Brussels, a giant Moloch called the European Commission is centralizing powers with a speed that would have been unimaginable before the Treaty of Lisbon. Continue reading