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Have Hope: Our Opponents Are Economic Imbeciles.

ECONOMIC IMBECILES

All around us are economic imbeciles. We find them in the major university economics departments. We find them on the financial media sites. We certainly find them in Congress. Above all, we find them on the Federal Open Market Committee. These people believe that a government committee, filled with tenured bureaucrats, is better equipped to solve economic problems than the competitive free market is, where people have their own money on the line.

They really are economic imbeciles. They may have IQ’s that got them through college or graduate school. But, in their understanding of cause and effect, they are imbeciles. They do not understand that they are imbeciles. They preach to the choirs that surround them.

Why do economic imbeciles get a hearing? Because voters desperately want to justify the fact that they have used the state, and especially the federal government, to confiscate wealth from each other. They want to believe in their hearts that they are doing the morally right thing by sending out a thug with a badge and a gun, who tells the hapless citizen to fork over his money, or he will go to jail. We have an entire political and economic system which rests ultimately on this threat.

Anyone who falls intellectually for this kind of immorality is not a reliable judge of much of anything. When this person goes looking for an expert opinion to justify the fact that he is a thief, he is likely to find that only third-rate logicians, who cannot follow the chain of reasoning, are going to come forward in the name of organized theft.

It starts with a moral problem. It starts with a violation of the commandment not to steal. We have a modern civilization that is built on a systematic violation of this commandment.

The overwhelming majority of voters today are convinced that the present economic order in no way violates this principle. Virtually all of the pastors in the pulpits are convinced of this. They don’t preach against the organized theft of modern Keynesianism. They don’t think it’s part of their calling to point out the obvious ethical implications of the system of government that compels people to support other people, merely because the other people don’t want to go out and get a job.

Or maybe other people do want to go out and get a job, but they find competition from outside the country difficult to deal with. So, they call upon economic imbeciles to justify their desire by establishing trade barriers against imported goods. Fortunately, on this particular issue, there are a limited number of economic imbeciles with any influence, and there have not been many since the early 19th century. From Adam Smith until Murray Rothbard, economists who understand cause and effect have been opposed to trade barriers. So, those people who feel that they have a right to keep foreigners from competing against them have to appeal to economic imbeciles who cannot think straight.

I suppose I shouldn’t use strong rhetoric. The phrase “economic imbeciles” is strong rhetoric. The problem is this: these people really are economic imbeciles. They literally cannot follow cause-and-effect and economic analysis. This is why they don’t like Austrian school economics. This is why most of them favor central banking. This is why they favor government intervention into the economy. Their instinctive reaction to every problem is to get the government to pass a law, set up a bureaucracy, and send out people with badges and guns to tell other people what to do. It is a way of life for these people. It is also a way of life for the court economists who are on government payrolls in tax-funded universities.

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  • Dutch

    “It starts with a moral problem. It starts with a violation of the
    commandment not to steal. We have a modern civilization that is built on
    a systematic violation of this commandment.”

    You are calling other people economic imbeciles !!! That is one big laugh. And you see
    government as something bad. Doesn’t seem to make a difference what kind of government
    it is. It is bad. Each time I read it, I’m not sure which is your stronger ‘VIRTUE’. Ignorance
    or hate.

    Let’s start out with the assumption, make that “truth,” that everyone has evil within them.
    If we were all perfect, we wouldn’t need a government. We would have a benevolent
    leader who would tell us when dinner is ready, and when it is time to have our communal
    song fest.

    Governments are made up of people. This means that every government is also
    flawed. That is not going to change either. We are talking about degrees here.
    We set up governments in the hopes that the good will outweigh the bad. We could
    alleviate some of that by not allowing corporations to finance candidates at all, and
    by putting a cap on individual financiers also. We could also get rid of the electoral
    college and consequently gerrymandering.

    But since you have mentioned Keynesian Economics, perhaps what you are really saying
    is that government should stay out of our economic situation all together. Again, I
    totally disagree, but I do hope that government is smart enough to be for all of the people –
    rich or poor – rather than for the rich guys who make our lives so much better (snark).

    Just what do you think is being done now, for instance, that goes against the idea of
    what this country is about and what God would want us to do?

  • James Krone

    Quite an axe to grind ,doesn’t he..

    • Dean Striker

      Hi James, not sure whom you refer to as “he”, but I’ll assume Dutch. If so, it does seem that he wants to be governed. This planet is overflowing with such types.

  • Dutch

    ONe of the dumbest things I have ever read.

    • Dutch

      Which one? Well, there are not a lot of possibilities here, are there?
      But, I was talking about the article written by Gary North. I was led here
      by Tasine, who wrote just below my post. She says Gary North is her
      “partner.” I wonder what she means by that?

      Anyway, it is hard to believe that people can be so obsessed with the
      government who is intruding in their lives. Perhaps she and North could
      tell us about less intrusive governments. I would love to hear about them.

      • Dean Striker

        Actually, Tasine is my mate/partner for several years now. Both of us want Being Governed to be totally ended. If you don’t see the intrusion of government using it’s powers of force against the people, I see no help for you.
        Our entire NoRuler website is dedicated to replacing GOVERNment with a Voluntary system, in which everyone is free to make his own choices, not to be dictated by any other. It follows also that no man cross that line to intrude upon any other.

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