Wednesday, January 23, 2013

Peter Boettke: Time to Read Rothbard

Pete writes:

I often wonder what world folks are looking at, let alone studying, when they make claims that the laissez faire model of economic liberalism is dominant.  Every where we turn in our economic lives we can see the grabbing hand of the state.  Throughout the western world we have bloated public budgets, the manipulation of money and credit, obstructionist regulations, and numerous measures to weaken the discipline of profit and loss.  In short, we have state controlled market economies.  We are living the policy reality of mercantilism, while rhetorically emphasizing economic liberalism. 
Time to read Rothbard closely and straighten this mess out.
Here's Rothbard on mercantilism:  Mercantilism: A Lesson for Our Times?


  1. Too many people learning economics via Nancy Pelosi.

  2. Same here. I am positively BAFFLED as to why people think we line in some libertarian society. Are these people just that damned stupid or just not turning their brains on at all?

  3. > they make claims that the laissez faire model of economic liberalism is dominant

    To be fair, the Bankster class lives in a laissez faire world. We're not afforded the same privilege.

    1. The banksters do not live in a laissez faire world. If they did, they would have to survive on their own merits without special privileges and bailouts. They would have to succeed on their own and would be allowed to fail if they did not. Instead of the market determining who succeeds, the government does through regulations, taxes, bailouts, and special privileges that are designed to help the connected at the expense of competition.

    2. The Banksters are left alone by the government, the original meaning of laissez faire.

    3. They are not left alone. They are being aided by the government.

    4. The Banksters are left alone by the government

      Er, except when they're being offered bailout bucks.