This nearly-25-year-old piece by Ronald Nash is absolutely tremendous in this day of Comrade Obama’s rush to socialism, explaining why unfettered capitalism–something I’ve never seen in my lifetime, by the way–is the most moral, most productive economic system possible.
I will say nothing more about that deplorable economic system known as interventionism, a hopeless attempt to stop on a slippery slope where no stop is possible. The only way the half-hearted controls of the interventionist can work is if they become the total controls of the socialist. Anything less will result in the kind of troubled and self-damaging economy we have had for the past several decades in the United States.
Ed. note: This is Obama economic policy (and, frankly, Bush economic policy, particularly later in his presidency, and the economic policy of every Democrat and many Republicans): we have to “intervene” in the market, to “regulate” so that we don’t allow the greedy to take advantage of the poor, to preserve “economic justice”, blah, blah, stinking blah. It’s hellish nonsense, and is exactly the wrong thing to do.
Capitalism is not economic anarchy. It recognizes several necessary conditions for the kinds of voluntary relationships it recommends. One of these presuppositions is the existence of inherent human rights, such as the right to make decisions, the right to be free, the right to hold property, and the right to exchange what one owns for something else. Capitalism also presupposes a system of morality. Capitalism should be thought of as a system of voluntary relationships within a framework of laws which protect people’s rights against force, fraud, theft, and violations of contracts. “Thou shalt not steal” and “Thou shalt not lie” are part of the underlying moral constraints of the system. Economic exchanges can hardly be voluntary if one participant is coerced, deceived, defrauded, or robbed.
Please don’t stop with reading the excerpts; turn off American Idiot and instead take the 10 minutes necessary to read this piece. We’re pooting away our freedom every time Congress and the president try to “help”, and American patriots need to do all in our power to oppose this.