Last week I re-read Ludwig von Mises treatise on Socialism, simply titled "Socialism". This 600 page work is worth anyone's time regardless of their Political persuasion. Yesterday I re-read Marx & Engels "Manifesto". My head nearly exploded! Reading the two, back to back, causes you to logically sort out SO many paradoxes. They can't both be right, but they both ARE right depending on perspective. Mises was a brilliant thinker, and if you're not up to that level of Economics education I suggest you read Henry Hazlitt. You get the same thing written more for the layman.

I'm too progressive to fully swallow Mises or Hazlitt or even Bastiat but they make strong points, supported by fact. I enjoy reading Marx and Engels because they appeal to the common sense of the common man. (I think John Maynard Keynes may be the bastard child of Mises and Marx...)

Never, ever, assume that YOU are right and the other guy is wrong. Both have very strong cases. The "average Joe" is at a loss to decipher either side fully and I like to think that explains the vehement stands that both sides take in our struggle to find balance. We need Capitalism to create wealth and we need "the right amount" of Socialism to keep our Humanity. Chew THAT around for a bit and maybe you can find balance. Respect your adversary because it's likely that neither of you are 100% right, or even certain...

Peace, Randy


Steven.PBarrett 8 years 21 weeks ago

Don't waste your time on that stuff. I've investigated Austrian economics decades ago and trust me, it's not like having somebody giving you a bottle of prime Scotch that's been aging for years. This is just bad moonshine that only gets worse as it's consumed more and more by people who looking for a fast way to "jump start" their economies (or forever trying out the latest get-rich-quick fad) sans all the "time-consuming" and "unnecessary costs" of starting up legitimate businesses in order to avoid falling afoul of the laws of both the local, state and national laws, but also commonly shared taboos within their respective communities.

Austro-economics, if you'll pardon my shorthand, is nothing but a glossy academic repackaging (albeit equally boring) "justification" for nation-wide and global-wide applications of the laws of the Wild West. It's really nothing but a fancy-schmancy rationale for the ethics of Dodge City, not a genuinely progressive modern society. If you want a look at what Austro-economics and/or its underlying mentality and "morality" (LOLs a plenty on its "morality") just take a look at the recent Bloomberg report linked in my blog posting about the Brothers Koch and Iran.

"Hey, it's just economics, and if we only could get the government regulators off our backs ... wouldn't everything be dandy."

Well, if one can live with that everytime he or she goes to sleep not knowing where they'll open their eyes next ... what else can I say besides, "Don't touch that Devil's hooch!"? You'd have to be a solid believer in all that other kind of nonsense, the "Left Behind" and theory of the uber elect garbage that so many megachurches are getting away with in their pulpiteering (most notably in the Sunbelt where its effects are manifest to all eyes that are open and truly want to see how unfettered capitlism works its hardest and damndest best to debauch social values from the abuse of young workers at min wage work to the no-zoning-whatsoever attitudes in many Sunbelt cities, which has been used quite effectively by porn shop and mega-porn movie theater operators to their utmost delights.

Now, if only Ken Burns could live long enough to produce a new series about a different kind of "Prohibition" ... the permanent prohibition of Koch Industries/von Mieses Austro-economics. Genuine rot-gut economic whiskey, fer sure!

Zenzoe 8 years 21 weeks ago

"We need Capitalism to create wealth?" Randy, Randy, I thought you knew better. ;-)

Entertaining stuff, Steven.

Randy95023's picture
Randy95023 8 years 21 weeks ago

Steve (Zenzoe)- If you can come up with a better "Mousetrap" than Capitalism for creating wealth I'm all ears. Maybe we have a disagreement on the definition OF Capitalism, but it's created a tremendous amount of wealth that a Socialist or Marxist state couldn't even begin to create. Even China, who last time I checked was still "Communist", had to let their business sector run along Capitalistic lines to grow their GDP. Again, I love the concept and idea of Socialism but am forced by hard realities to defend Capitalism in the area of "creating wealth" (even if it means "exploiting the Proletariat")...

Again, I'm not trying to argue against you but I'm a trained economist and know that utopian societies are lousy at "creating wealth". I enjoy reading Marx and Engels but the comfort you get from dragging down the bourgeois has proven not to create a Utopia in the real world. I wish it did, or even could...

Peace, Randy

ken carman's picture
ken carman 8 years 20 weeks ago

Our society has always been a mix of the two. Well regulated, with the emphasis on "well," is the best bet, IMO. Socialism, once very popular, isn't the demon it's now painted, and Capitalism is monopolistic-seeking canibalism in it's purest, unregulated, forms... where businesses are free to do anything, no matter how vile, to dominate the market. Most who push totally unregulated markets would hate the result, but still blame the Left.

It's theology. folks. Satan Left is to blame for everything, even when they do it to themselves.

PROGRESSIVE RET... 8 years 20 weeks ago

Capitalism Good! Socialism Bad! We have laws in this country to protect the stupid from themselves. The real patsy here is the U.S government with its ever increasing debt due to its central planning and social programs that are totally unconstitutional.

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