The state loves to regulate the market. They often couch their regulations in words like “efficiency,” “savings,” and “choice,” but the fact is that all their regulations can do is impede the efficiency of the market, force savings where consumers want better solutions, and eliminate choices.
Category: Essay
Posts with this tag contain an extended text essay of the topic in question.
Check out my latest at the Mises Wire. It’s about how the Modern Monetary Theory clowns use something like the Motte and Bailey fallacy to gain influence with politicians and feed them really bad ideas. The negative consequences of those ideas are well known to MMTers, but they can omit them and pretend they’re “unintended.”
Here’s a little bonus bit that I wrote about it:
My focus was how MMT’s use of odd definitions, convenient tautologies, and strategic vagueness leads to politicians thinking they be more aggressive parasites without negative consequences.
Court intellectuals remain so by justifying the actions of their state masters. MMT is just another place for would-be court intellectuals to do this. It’s as easy as omitting secondary consequences (“unintended” consequences) from their writing.
The modern capital structure is vast and complex but can quickly and easily be destroyed by an overzealous state. The USSR’s policies turned Ukraine from a breadbasket into a valley of death in just a few years, and it can happen again.
Good economists stand in the way of idiots demanding our seed corn. Bad economists cheer the thugs on. They omit vital caveats and let the state’s greed take its course.
I read Menger’s Principles of Economics a few months ago, and I’m currently re-reading Mises’s Human Action, and I’ve noticed both of them introduce the concept of the “order” of goods, that is, the number of production steps a good is from consumption.
For example, if the path to making bread is: seed -> wheat -> flour -> bread, then flour is a second-order good, wheat is a third-order good, etc.
Both Menger and Mises introduce this concept, but both dismiss it as effectively meaningless. Their reason, I suppose, is that in complicated production pathways, one good might be fourth-order in one pathway, and fifth-order in another.
But I think they might have missed something–something where understanding the order of goods allows us to make a clear example of the usefulness of a medium of exchange or money.
(Also available on Bitchute.)
There is a tendency for thinkers to use metaphor and allegory to reframe a problem or issue in a way that clarifies or simplifies it. The problem with metaphor and allegory is that they necessarily change or obscure details. Therefore, the solutions you propose from looking at a metaphor might be way off.
Even worse, the retreat into metaphor can be so deep that no concrete solutions even appear, and you end up with long periods of idle musing.
The Mises Wire was kind enough to publish my critique of George Orwell’s book The Road to Wigan Pier!
Honestly, I was really proud of this review and critique. I had heard so many good things about this particular book, and was amazed to find how shallow its analysis was.
I would love if you would go give it a read.
…and all the men and women merely Doomers.
But seriously, I recently read a little piece over at Of Two Minds and Mr. Smith spends a lot of time defining Doom Loops, but not really explaining how we should be reacting to them. So, I figured I’d contribute a little analysis, and maybe some advice.
Secession is the smart and peaceful solution to irreconcilable political differences. I wrote a short essay about five especially bad arguments you often hear against secession, and the Libertarian Institute published it!
Check it out here, and if you liked it, you’ll surely like more of their content! They publish greats like Scott Horton, Ron Paul, Jim Bovard, Sheldon Richman, and more! Support them if you can!
A bunch of topics all together this time. What is the Macro Trick? It’s the combination of things that are fundamentally different under one name. It’s a tool that many tyrants and would-be tyrants use to take control of politics, economics, and culture.
It feeds the demand for administrators, technocrats, and other “experts.” In this video, I have a breakdown of some egregious examples of this trick, as well as what we can do to fight it.
Also available on Bitchute.
A video version of part 1 (of 3) of my short essay series on money.
For the text version with links and citations, visit here.
The Russian Revolution is one of the darkest moments in recent history. It led to millions and millions of deaths, and even more impoverished and horribly oppressed by communist governments in the twentieth century. Richard Pipes is one of the most renowned scholars of the Russian Revolution, with two long books, The Russian Revolution and Russia Under the Bolshevik Regime, that describe in gory detail the monstrosities of Russia around the time of its red revolution.