Austrian Economics (true free market principles) VS. Keynesian Economics (micro managed by an oligarchy)
Austrian economics is form of capitalism that is extremely libertarian. It has a strict standard and ethics in free market thinking. It rejects the idea that governments role is to stabilize macroeconomic fluctuations. Austrian economics is against constant government influence such as stimulus packages/quantitative easing and bailouts. They are strongly against private banking cartel’s relationship with the federal government such as the Federal Reserve and their manipulative involvement in the economy. Austrian economics believe that those involvements create unsustainable bubbles and are fallible and vulnerable to the corruption that lies in the hearts of men that naturally manifest when a handful of men control something with great power and wealth, such as a nation’s money supply and monetary economic influence. Absolute power, absolutely corrupts.
Austrian economics is very aligned with Libertarian principles routed in Life, Liberty and the pursuit of happiness. Liberty and Austrian economics in the marketplace does not believe in any particular economic outcome, but rather they trust in the spontaneous natural order that results when the government does not intervene in human volition and human cooperation. They allow the markets to work out their problems for themselves, build an economy for themselves, take risks and accept responsibility for the results, and make their own choices free from as much government involvement as outlined in the Constitution.
People have a right to seek services but they don’t have a right to force others to give them services. Under the principles of life liberty, and the pursuit of happiness, people providing services have the right to charge whatever they want. And they have the right to decide for themselves who they are going to service and not service. It’s their body. It’s their skills. It’s their practices and services. No one has the right to force another to live for them.
Austrian economics is very much aligned with the vision of our founding fathers and the principles of life, liberty and the pursuit of happiness. True free-market principles have never really completely been embraced or implemented. They only exist for brief periods of time, and are only partially implemented. But always with great success. On the other hand, Keynesian economics with a monopoly of force dictated by a centralized governing body such as what we see today with the federal government and the private banking cartel’s known as the Federal Reserve and the Rothschild’s banking cartel, always inevitably completely crash, or crash in the benefit of the 1% of the 1%.
Are markets that are based in true free market principles perfect and infallible? No, nothing is perfect or infallible. But I do believe that the inherent flaws of a true free market system are far less flawed than the inevitable detrimental flaws of allowing an oligarchy to rule as they see fit.
– Michael Vincent –
Ron (Austrian) Paul vs Paul (Keynesian) Krugman…