I'm a pretty light sleeper. I can usually only get one decent night of sleep a week. Might as well spend it being up and doing stuff.
78 karma · joined February 19, 2008
the assumption that warlords would always appear in society no matter what is just that - an assumption. on the other hand, every government we have today was born by conquest and initially created by warlords.
I simply don't hold to the assumption that government will always be necessary in society to protect property rights. they are actually the biggest violators we have of property rights. people are capable of progressing beyond government, and I think they will once they finally realize what government really is.
and why did the bankers get so much power in the first place? there is a LONG history of government centralizing, cartelizing, supporting, and regulating the market's major financial players.
"The banks, however, are another matter altogether, and this is where I think capitalism has hit a roadblock. The government has intervened to save many of them, and now, these bailed out banks want to hand out billions in bonuses to their non-performing employees. Capitalism gave way to welfare economics, and now the government has to intervene further to limit these looters from behaving badly by imposing taxes and regulations."
If the government hadn't intervened in the first place, and instead let these irresponsible banks fail, then the transfer of taxpayer money in the form of bonuses never would have happened.
What she's describing here is, in actuality, yet another flaw of government intervention.
Doesn't new money creation have the same effect as directly taking cash from the economy? After all, it does cheapen all available money. How, then, can he say that these costs are deferred?
Business innovates because there are huge profits to be made in making people's lives easier and better off. Government doesn't innovate. It merely saps innovation that would have occurred in the private sector.
It's not some amazing feat of innovation that somebody thought to hook up computers to talk to each other. Give somebody enough power to confiscate money from the people, and monopolize tech research, and they might eventually come up with something useful.
Of course, who's to say private industry research wouldn't have been able to come up with something that's even more useful, had the government not monopolized these functions? They might have been able to come up with networking protocols without such serious security holes as in today.