October 29, 2008

Hanging our economic woes on capitalism.

George Reisman identifies the game plan in an interesting article:
The news media are in the process of creating a great new historical myth. This is the myth that our present financial crisis is the result of economic freedom and laissez-faire capitalism.[1]
Ayn Rand to the same effect:
One of the methods used by statists to destroy capitalism consists in establishing controls that tie a given industry hand and foot, making it unable to solve its problems, then declaring that freedom has failed and stronger controls are necessary.
And Nikita Khrushchev lays out the ultimate goal:
"We cannot expect the Americans to jump from capitalism to Communism, but we can assist their elected leaders in giving Americans small doses of socialism until they suddenly awake to find they have Communism."
The love affair of intellectuals with socialism knows no bounds. Imaginable goals are achievable, they think, if men will but give expression to their innate good will. Those who question or denigrate those goals are, ipso facto, not men of good will.

Notes
[1] "The Myth that Laissez Faire Is Responsible for Our Present Crisis." By George Reisman, Ludwig von Mises Institute, 10/23/2008.

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