Creative destruction has become again, a popular term to explain the dislocation of workers in western labor markets. Although first coined by Karl Marx to describe how capitalism would be destroyed by the bourgeois, Joseph Schumpeter (1883-1950), an Austrian economist, (not part of the Mengarian Austrian Economic School) modified the meaning to be understood as the outcomes of introducing new methods of production, new technologies and discoveries and the reallocation of resources to new lines of production by entrepreneurs. The “new” replacing the “old”.
Tags: 3D printing, human action, Keynes, Ricardo, robotics, Schumpeter, unemployment
Tags: bourgeois, consumerism, left-right, moralism, plutocrats
The one most important reason that the Left-Right Paradigm is totally false is its narrative about a horizontal struggle between two factions of the working people. In reality, the struggle is actually between the working-class and a centralized, privileged authority. But what the poisonous paradigm does is that it says that certain kinds of centralization, authority, privilege are good, but others are not. It then goes on to pit the working-class against itself, and every four years, two plutocratic puppets pretend to be bitter opponents, when in reality, they are cut from the same cloth. Read the rest of this entry »
Tags: collapse, culture, economy, inflation, Monty Pelerin, society, State
A country dies slowly.
Those living during the decline of Rome were likely unaware that anything was happening. The decline took over a couple of hundred years. Anyone living during the decline only saw a small part of what was happening and likely never noticed it as anything other than ordinary.
Countries don’t have genetically determined life spans. Nor do they die quickly, unless the cataclysm of some great war does them in. Even in such extreme cases, there are usually warning signs, which are more obvious in hindsight than at the time.
Few citizens of a dying nation recognize the signs. Most are too busy trying to live their lives, sometimes not an easy task. If death occupies their mind, it is with respect to themselves, a relative or a friend. Most cannot conceive of the death of a nation. Read the rest of this entry »
Tags: Garry Reed, libertarian, Loose Cannon Libertarian, Selected Salvos
Recently, I began reading Garry Reed’s book, “Selected Salvos from the Loose Cannon Libertarian” and found myself enjoying every page. Garry Reed’s writing style is something bordering H.L. Mencken and Groucho Marx. His quick wit and colorful turn of a phrase gives the reader something to chuckle about while being informed. After having read volumes of economics books and tomes this little collection of his articles, between 2001 and 2002, I found quite refreshing. It was like cheating on a diet with a pizza and a beer. Read the rest of this entry »
Tags: bourgeois, kleptocrats, left wing, Marx, Obama, plutocrats
Occupy Wall Street rages against the One-Percent. Obama continually talks about his policies “strengthening the middle class”, while unemployment and underemployment get worse and worse. Here is the dirty little secret. Communists and corporate plutocrats want the exact same thing, a 1-99 ratio society. The Far Left never is and never has been the real enemy of the “1%”. Instead it is the enemy of everything in between. Equality means equally 99% poor, and the 1% is an enlightened dictator with a god-cult persona. Read the rest of this entry »
Tags: extortion, Puviani, shell game, taxes
Over 100 years ago, in 1903, Italian economist and scholar Amilcare Puviani published his book, ”The Theory of Fiscal Illusion.” The Italian scholars at that time were profoundly curious about the effects of government on young democracies. They asked the question, “How could politicians best use the power of the purse to pursue their projects without the ‘ruled’ getting wise?” This research gave birth to what today we call “Public Choice Economics” made famous by economists James Buchanan and Richard Wagner. Read the rest of this entry »
Tags: blue collar, education, Gen Y, McDonald, preparedness, white collar
American young people, especially young men, have found themselves in the most awkward of situations. Believe it or not, it is a serious problem. If one believes in evolution, they should also believe in hyper-evolution. Man evolves from the brute to the gentleman. But what does the gentleman evolve into? Is there a possibility he can evolve too far, and become more useless than the brute? It has already happened in the UK, France, Spain, Germany, Belgium, Italy, Netherlands, South Korea and Japan and now it is happening in the US. Read the rest of this entry »