The “extreme capitalism” straw man

20 08 2010

Unfortunately there are people in our community who still believe we live in a capitalist world.  Former Australian PM Krudd got away with publically asserting that our woes were due to our “extreme” capitalism!?!  

Ayn Rand noted that we live in a “mixed economy”.  The Ayn Rand lexicon has some interesting excerpts on this topic. 

I’m think it’s also worth mentioning this insightful Ayn Rand quote:

“One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.”

And Don Watkins and Yaron Brook have recently published this article at 
The U.S. Anti-Business Epidemic” 
They explain the reality of the mixed economy very well:

“One of the myths that arose following the financial crisis was that America pre-Obama was something close to a free market. According to this narrative, anyone who supports the status quo circa 2007 is a champion of capitalism.

But by 2007 the number of federal agencies and commissions riding roughshod over a businessman’s rights had already mushroomed to more than 100, including the IRS, SEC, EPA, FTC, FDA, FCC, USDA, FDIC, OHSA. These agencies were enforcing an unprecedented 73,000 pages of regulations, and their budgets had swelled to record levels. This included 2002’s draconian Sarbanes-Oxley, passed by the Senate 99-0 and signed into law by the supposedly pro-capitalist President Bush.

This vast government control of production and trade is the opposite of capitalism. Yet how many of these anti-business laws and regulations have Obama’s critics vowed to repeal? None of any consequence.”




One response

9 07 2012
10 bubbles that will kill capitalism | Reward Central

[…] One Market Under God: Extreme capitalism, market populism and the end of economic democracyThe “extreme capitalism” straw man […]

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