Gods That Failed

Gods That Failed

An economic system labeled free market capitalism was never formally laid down in the Constitution. It did not need to be. This document generally prescribed self-government, or, to use an almost hackneyed term in political rhetoric, liberty. This condition logically only led to one conclusion, free market capitalism. More over, with that, decades of revolution, innovation, and prosperity launched America to the pinnacle of economic success, corresponding with social mobility.

 Yet, one fateful Friday, the fate of this god was officially sealed. Confusion and disorder, as always, lead to blame.Private Interests! Laissez-faire economics! Greed! Market failure! Who would stand up for Capitalism? Did Capitalism even deserve a defense? It was settled. The hungry watchdog government was ready to “rescue” the economy.

 However, free market capitalism could not be the culprit. Capitalism had left awhile ago! It had suffered through government meddling such as subsidization and commerce regulations, which already had punctured the competition system in Capitalism, allowing notorious “robber” barons to corner industries (which would never happen in a free market despite common teachings). The regressive, er, Progressive Era invasion also threatened it. In addition, by 1913, more importantly, the two most essential functions in a free economy, the money supply and interest rates, were dictated by an esoteric central bank, the Federal Reserve. In fact, it was the Federal Reserve policies of easy credit that actuallycreated the crash, and FDR’s Keynesian policies (massive government spending and intervention) that put the “great” in the Great Depression. As a result, a mixed economy—“free” markets and government planning together—set America’s economy on a downward spiral toward less freedom and more special interests.

 How did this god fail? This god that lifted millions out of poverty, fostered self-reliance, created wealth exponentially, revolutionized technology, promoted peaceful trade, and provided everyone with the opportunity to pursue individual aspirations? Of course, this god was not perfect in a sense that it created equality (of results), but all humans become capable of different things that have different values.

 Another god, Democracy, had always seemed much more glorious. Besides, it was only logical that political freedom complemented economic freedom. “Rule by and for the people.” Yet, the framers cringed at the thought of rampant Democracy. A Constitutional Republic, a representative democracy, would be the quasi-democracy that seemed to embody political liberty. It would capture the general desires of the majority, but would be directly carried out by competent statesman (look how that turned out), directly elected by the people. “Jacksonian Democracy” in the 1830s followed, erasing property qualifications, followed by Progressive Era legislation that, for example, made the Senate directly elected. Americans are still enamored by democracy.

 “Our government can do great things”, sealed the fate of freedom. “Our democracy.” Roads, schools, welfare! Rockets, environmental protection, the arts! Heck, we can even perfect the market economy! As long as people generally would like these things, then of course we should have them. Right and left, liberal and conservative, Americans treasure this system; all they need is to have their leaders in power, and anything’spossible.

 Pundits, progressives, and politicians all agree (sort of) that free markets and democracy go hand in hand—you can’t have one without the other. Well, I agree with the founders, but I’d go farther.

 Democracy and Capitalism are antithetical—polar opposites. Representative or not. Democracy is the force of the majority over everyone. Force. Collective dictatorship. Endless laws, diminishing freedom, rampant special interests, and voter manipulation—these are the ultimate results of democracy. Checks and balances in the three branches are ultimately powerless when the majority dominates, and when who controls the majority (i.e. the media and political allies) really dominates. That is why, regardless of our own personal beliefs or needs, we have to support wars, subsidized abortion, big banks, slavery (welfare), marriage restrictions, and countless other measures that rob and subjugate the population.

 Free market capitalism is the opposite. In such a system, you chose where you work, what to purchase, and which organizations to join. You don’t have to do anything—it’s all voluntary, and everything is solved voluntarily, i.e. through charity, individuals, and mutually beneficial exchanges. The only way to gain “power” is by doing something people want, doing something that creates value. Physical force is ineffectual and only leads to isolation. Capitalism protects the individual, the only entity that truly reasons and acts. Each owns himself and rules himself.

 There is no such thing as political liberty since it always entails power. Being able to choose who has power still involves coercion and tyranny, in any degree, especially over minorities, with the most specific being the individual. Property rights are the only freedom. In one sense, it is political freedom—the rulers being each person ruling over himself in an un-shackled market.

While the American experiment proved to arguably be the freest, most moral, and most prosperous society in human history, it still will and is in the process of voting away free market capitalism and freedom in exchange for majority manipulation. Just look at the Great Depression: the majority was fooled into thinking capitalism was severely flawed as portrayed.

 Free market capitalism and democracy are diametrically opposed. We only need to look at history. Democracy held the gun, while capitalism, the individual, was and is no god, but a delicate lamb. Thus, democracy, the majority, is just a tyrannical and greedy wolf. No gods. Just kings and servants.