How Regulated Capitalism Got Branded As Socialism, And How Real Socialism Got Sold To The People As The Solution To Improperly Regulated Capitalism / Crony Capitalism…
Back in the days in America when child labor was accepted, no building codes were in place, OSHA was not yet formed, worker’s rights weren’t practiced, so on and so forth, there were community organizers and good politicians that wanted to regulate the marketplace with legislation geared towards preserving people Liberties and rights, to make it a safer and more prosperous environment. But the major corporate / industry leaders fought against putting these proper regulations in place because they thought they were set to lose massive profits as a result. So, they demonized it as socialism when in fact it was not socialism at all, it was just sensible regulations.
Similar things still happen to this day, however we now primarily have the opposite problems with issues of over-regulation and counterproductive regulations put into place. We have a corrupt system that has lobbyist / corporations that pay for politician’s campaigns, so that when they get elected into office they will deregulate or over regulate a particular industry to appease the lobbyist, so as to allow the lobbyists to monopolize and or corner a particular market. This has many labels including the term crony capitalism. We are witnessing crony capitalism failing, not true well-regulated free market capitalism (well does not mean over-regulated, it means sensible intelligent regulations geared towards preserving individuals Liberties and rights).
Our system is beginning to now have major financial and social issues as a result, and instead of people being educated about what the true problems are and what the true fight is (which is to restore and form a well-regulated true free market capitalistic system), people are being sold the failed philosophy and ideology, that we must centralize the decision-making on every aspect of the market and form a monopoly of force to be administered by the federal government. Which is known as authoritarianism and or socialism. The most extreme form of this kind of governing (micromanaging / Keynesian economics) is referred to as communism. Now, the important thing to understand is, socialism isn’t the answer, and capitalism isn’t the problem.
True free-market capitalism with Liberty in the marketplace is not to believe in any particular economic outcome, but rather to 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. There is a lot of work to be done indeed, but we need to educate people about what true socialism is vs. true free market capitalism.
– Michael Vincent –
Ron (Austrian) Paul vs Paul (Keynesian) Krugman…