Monday, February 9, 2009

The Problem With Capitalism

I appreciate capitalists' emphasis on a Free Market.
I appreciate capitalists' critiques of Government Intervention.
I appreciate capitalists' Anti-Statism.
But I wish they were more consistent with all of it.

The basic idea is that men work better and get richer when they have more freedom, i.e., when someone isn't "bullying" them. That "bullying" might be taxes, or minimum-wage laws, or a fiat currency, or rent-fixing, etc. Read Milton Friedman or Ludwig von Mises or Ayn Rand and the identity of the "bully" becomes clear: it's the gov'ment. Everything would be fine if we just got rid of Government Intervention.

But since when is the government the only bully in the world? Some Multi-National Corporations are more powerful than governments! What about their intervention? Ironically, I believe Capitalism's vehement opposition to the state actually gives too much credit to the state.

To invert the argument a bit...while I appreciate their emphasis on a Free Market, I believe they should be more thorough in how they define "free." Your government isn't the only entity capable of oppressing you. Vikings could come burn all of your possessions. Market intervention! Just imagine your Anglo-Saxon ancestors, gallivanting across Europe, spreading deflation and recession. Clearly, Viking Intervention is a bad thing. It should be obvious that when ANY man threatens you, or steals from you, that's an "intervention" with your freedom and the Free Market.

In conclusion: what is a state, if not a really, really powerful corporation? And what is a corporation, if not a miniature state? One supposedly looks to the interest of its shareholders, the other supposedly looks to the interest of its citizens. One is run by corrupt, self-serving CEOs, the other is run by corrupt, self-serving politicians.

1 comment:

  1. http://www.faith-at-work.net/Docs/WhyWork.pdf

    You should read this. It's not quite on-topic with your post, but it's about a christian view of economics through the lens of vocation. Tell me what you think.

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