Posts on economics

The Libertarian Analysis of Obama’s Tax Proposals

For those of you who did not watch President Obama’s State of the Union address, you can read a transcript here, as I have. I neither watched it nor the five earlier addresses he gave. And neither did I watch any of Bush’s State of the Union addresses. Actually, I have never wasted my time watching any president’s State of the Union address.

I have always loathed Obama for his radical associations, his life spent in the service of racial preference, his aberrant Christianity, and his belief in the redistribution of wealth. I loathed Obama when he was in the Senate for being one of the most radical left-wing Senators in history. And I have loathed him as president for his corporatism, warmongering, contempt for the Constitution, Obamacare, and expanding the welfare/warfare/national security/surveillance state. In fact, if you substitute Bushcare (the Medicare Prescription Drug, Improvement, and Modernization Act of 2003) for Obamacare, these are the same reasons I loathed George W. Bush.

This does not mean, however, that we should just dismiss outright all of the proposals Obama made in his State of the Union address—and especially those that relate to taxes.

View Post

The System Built on Greed

http://reformedlibertarian.com/wp-content/themes/sahifa/timthumb.php?src=/wp-content/uploads/2013/12/new-14480_640.jpg&h=330&w=660&a=c

Guest post by C. Jay Engel of the Reformed Libertarian.

The anti-free market proclamations from the left (and even sometimes the right) come in all shapes and sizes.  Among the more common of these proclamations is the one that I heard yesterday.  As far as I can remember, this is what was said by the individual (to her friend) next to me.  “Capitalism is problematic because it is an entire system based on greed.  If we want a healthy society, we should not seek to adopt such a system.  We need a system that is based on cooperation and love.”  That capitalism is a system built on greed is a claim that is often heard and the theme has been pushed at every level of society; from the politicians, the educators, the commentators, the media, and the average Joe.

It is immediately clear that there is a dichotomy here between cooperation and capitalism, a dichotomy that should immediately raise the red flags of the libertarian.  After all, aren’t we always saying that the economy is most ethical when it is completely voluntary?  And does not voluntary interaction and exchange form the basis for capitalism?  The problem sits in the misunderstanding of the very nature of (free market) capitalism.  This capitalism is not the same as the fascist system we have today.  The American system of corporatism, that has largely existed since the nineteenth century, should never be confused with the free market.

View Post