“Capitalism Has Failed”
An idea brought to my attention by Chris Byrne at Anarchangel.
Check out a few links at this Google Search.
As Chris points out, it’s ridiculous. Capitalism can’t break, anymore than evolution can break. Capitalism is the economic incarnation of evolution; they’re exactly the same process.
Watch the video Chris links to, featuring an interview with Amity Shlaes, author of The Forgotten Man. Everything you know about the Depression and FDR is wrong: FDR made it worse, and prolonged it horribly, by trying to replace the marketplace with government intervention.
The current mortgage crisis is not a failure of capitalism; it is itself a failure of government regulation, which thieves like Barney Frank and Chris Dobbs, themselves huge beneficiaries of the crisis, want to fix with even more regulation.
Would-be tyrants like Barack Obama, of course, simply want to dismantle the marketplace altogether.
If you listen to nothing else, listen to the story of the National Recovery Act and the Schechter family of chicken butchers, starting at about 16:00.
Quoting from the book:
To justify giving to one forgotten man, the administration found it had to make a scapegoat of another. Roosevelt and his staff were becoming habitual bullies, pitting Americans against one another.
The Schechters were Roosevelt’s scapegoats.
Tags: Amity Shlaes, Depression, FDR, National Recovery Act, Roosevelt, Schechter, The Forgotten Man
October 29th, 2008 at 3:04 pm
[...] “Capitalism Has Failed” An idea brought to my attention by Chris Byrne at Anarchangel. Check out a few links at this Google Search. As Chris points out, it’s ridiculous. Capitalism can’t break, anymore than evolution can break. Capitalism is the economic incarnation of evolution; they’re exactly the same process. Watch the video Chris links to, featuring an interview with Amity Shlaes, author of The Forgotten Man. Everything you know about the Depression and FDR is wrong: FDR made it worse, and prolonged it horribl [...]