This essay by Murray Rothbard holds particular relevance as the Trans Pacific Partnership continues to be negotiated in secret.
We have followed Bitcoin from its birth. It is a challenge to the world’s central banks. It is a challenge to the world’s governments. It is a challenge to the super crony capitalists on Wall Street.
This is street fighting money.
Crony Capitalism in America, 2008–2012. By Hunter Lewis
by David Gordon
Those of us who favor the free market must confront a problem. The virtues of the market, and the vices of socialism and interventionism, have been made incontestably clear by Mises, Rothbard, Hazlitt and others. The case for the free market, as these great figures explain it, can readily be grasped and demands no esoteric knowledge. Yet many academics reject the market. They condemn capitalism for leaving many in poverty and for glaring inequalities. How can so many academics fail to grasp what seem to us obvious truths?
In order to understand what is really going on in the economy one must have some understanding of the Federal Reserve. It is a truly amazing and diabolical institution created not for the public good as we are told, but in fact Murray Rothbard asserts, for the private good of the world’s largest banks.
Murray Rothbard is a person everyone who wants to really understand economics should know. He will challenge you and the things you have been taught. God help you if you have gone through a mainstream economics department. You are in for a wild intellectual ride. But boy is it a ride worth taking.
Look, the government wants to understand how Bitcoin works so that it can crush it (which it looks like it can not,) co-opt it, or replace it with a government sponsored version of Bitcoin. The government and central banks are deeply concerned that Bitcoin will undermine the worldwide central bank system. If they could kill it they would have at this point. But they can’t.
Now they are desperately trying to use the antiquated tools at their disposal to make the innovators spill the beans so the old government and banking establishment can gather them up.
Rothbard is someone who deserves more attention. Outside of “free market” circles he is little known, though his stature seems to grow with each year.
His was an unbridled intellect. He was uncompromising in his advocacy of free prices, free markets, and freedom generally.
Interesting essay from Dan Collins at Conservativecommune.com, and he’s just about right.
Private industry has been informed that it is now under the power of the state. The government can compel industry to do it’s will pretty much without restriction now. “Private enterprise” in this country is being destroyed. (Though it can be revived with lots of hard work.)
We are at an important point in American politics, and especially in what is often considered Right of center politics. Rand Paul and others in his camp are changing the landscape with a more liberty based critique of America. Things are changing in important ways, especially on the “Right.”
* I gave this speech on April 15th, 2009, in Charlottesville, Virginia. I had forgotten about it, but stumbled across it again today. It deserves a post to ACC.