Yes. Absolutely yes! In fact monopolies can not survive without government protection. The economist Murray Rothbard pointed this out. (Others have too.)
In the event of a “free market” monopoly (Actually a misuse of the word “monopoly.” According to Rothbard monopolies were originally granted by a king etc.) the colluders almost always start to undercut each other once they arrive at an agreement. Then sooner or later the cartel starts to fall apart. The only thing that can keep this medium term disintegration from happening is government.
A good bit of the nastiness we see in American streets is at least partially as a result of our almost suicidal war on drugs.
Why do we even have a war on drugs at this point? It’s obviously failed. Nearly everyone acknowledges this. Yet it continues.
The answer is the state and the various parts of the anti-drug industry want drugs to remain illegal. (Pharma’s happy to see drugs illegal too for obvious reasons.) If we had no drug war police would have to concern themselves only with things like rape and murder which means fewer cops.
And now for something different. (From what you’ve been told your whole life.)
A reminder from Lew Rockwell of the true nature of the state. The government facilitates cronyism, it doesn’t listen to you, it takes your money for itself and its crony allies, it wages wars which need not be waged, it is not – you and me. It serves its own purposes first. We are at best second thoughts. (We are actually thought of quite a bit, but primarily as nuisances.)
From the master Murray Rothbard.
Does one generally want to have long recessions or a short recessions? The answer seems obvious, most people would want shorter ones even if it meant a particular short recession was more acutely painful than a long one. Have the thing and then get on with life. But our fear of recessions, our fear of markets clearing, has created a culture which insists that politicians (our oh so competent politicians) “do something.” In “doing something”
Quasi-fascism = crony capitalism.
Everyone should know Murray Rothbard. He’s changed many a mind over the years. Probably my favorite economist.
From the master.
Why private cartels are always “floperoos,” and why businesses must have crony arrangements with government to maintain cartels.
If you really want to understand why the crony capitalist system is so insidious as well as ubiquitous I highly recommend listening to this bit from the master Murray Rothbard. If you really want to get what is so messed up about government and the “privavte sector” partnering up, one must know at least a little bit of his work.
Warning though. Rothbard can rattle one’s whole understanding of politics and economics.
If one wants to be an economics superstar there seem to be 4 routes. 1. Win a Nobel Prize. 2. Write a book which is widely read by politicians and the intelligentsia. 3. Just produce excellent work, toil in obscurity, and then have your ideas championed by someone or group with the means to champion someone. 4. Become a presidential advisor.
I am sure that there are other routes too. Becoming a TV personality comes to mind but I can’t think of any economists who have or have had shows of note.
What about the economic panics before the Fed? Doesn’t this prove that we need a central bank?
This video comes to us from a reader. It’s a couple years old but it offers some illumination of the goings on in Brussels. It’s a pretty shady set up. Plus I can’t resist a video which features a parliamentarian citing Rothbard.