Category Archives: Private Property

Updated: Predicted Meltdown

Business, Communism, Economy, Government, Ilana Mercer, Inflation, Private Property, Socialism, The State

The brilliant Bob Higgs on the crumbling capital markets (read my comments following the “Snip”):

“The failure of Fannie Mae and Freddie Mac, setting in motion the biggest government bailout/takeover in U.S. history, brings a grim sense of fulfillment to competent economists. After all, what did people expect, that water would flow uphill forever?

This financial mega-mess is the same sort of event as the collapse of the USSR’s centrally planned economy, another economically unworkable Rube Goldberg apparatus that was kept going, more or less badly, for decades before it fell apart completely. Along the way, of course, famous (yet actually unsound) economists assured the world that everything was working out splendidly. As late as 1989, when the pillars were crumbling on all sides of the temple, Nobel Prize winner Paul A. Samuelson informed readers of his widely used textbook, “The Soviet economy is proof that . . . a socialist command economy can function and even thrive.”

In the future, we will see a similar breakdown of the U.S. government’s Social Security system, with its ill-fated pension system and its even more inauspicious Medicare system of financing health care for the elderly. These government schemes are fighting a losing battle against demographic realities, the laws of economics, and the rules of arithmetic. The question is not whether they will fail, but when—and then how the government that can no longer sustain them in their previous Ponzi-scheme form will alter them to salvage what little can be salvaged with minimal damage to the government itself.

Our political economy is rife with such catastrophes in waiting, yet the public always seems startled, and outraged, when the day of reckoning can no longer be deferred, and another apartment collapses in the state’s Hotel of Impossible Promises, loading onto the taxpayers more visibly the burden of sheltering the previous occupants.

Call it democracy in action or utterly corrupt governance; they are the same thing.

Each of these time bombs has at least one element in common: it promises current benefits, often seemingly without cost; but if it must acknowledge a substantial cost, it places that burden somewhere in the distant future, where it will be borne by somebody else. From the standpoint of society in general, every such scheme is a species of eating the seed corn. It satisfies the public’s appetite to consume something for nothing right now, with no thought for the morrow. It represents the height of irresponsibility by permitting people to live higher today than they can truly afford, financing this profligacy by borrowing recklessly and by taxing politically weak and ill-organized people in order to shower benefits on politically strong and well-organized special interests. …

The architecture of the Hotel of Impossible Promises is not arcane. All competent economists understand these things. Ludwig von Mises explained as early as 1920 why a centrally planned economy could not work as a rational system of allocating resources. The reasons why Social Security, especially its Medicare component, and many other such government programs contain the seeds of their own destruction have been explained time and again. Are the politicians who construct these structures really such idiots that they cannot understand the logic of what they are doing? Not at all. …”

[Snip]

The complete article is “Ticking Time Bomb Explodes, Public Is Shocked.” Read it. I disagree with the sentiment expressed in the last paragraph. Bob Higgs would find it hard to comprehend how stupid the corporate, political and academic elites truly are. This is the age of the idiot. Obama is an ass with ears. Ditto McCain. Take them at face value, Bob. Believe their idiocy. As hard as it may be for a man of your intelligence to grasp, they truly do not understand Mises and Hayek and Rothbard or even Friedman. The idea that misallocation of capital is inevitable in socialized systems is anathema to the incontinent legislators and the other cognoscenti. Psychologizing about their motives gives these intellectual tabula rasa more credit than they deserve. (Michael Rebmann of “North Buffalo Journal and Review” liked this rant.)

Update: I just saw CNN’s Campbell Brown, who, as I already noted, is not working with much, and her panel, laud the massive bailouts. Why? Because, as all agreed, the returns on this “investment” will be many times the investment. This is beyond rank utilitarianism. The concept of private property eludes Campbell and her commies. The risks in a bailout are socialized and the profits privatized. Theft is what this is all about–unconstitutional, criminal taking.

Updated: Joe Horn: Wanted Man…And A Hero

Crime, Individual Rights, Private Property

“Joe Horn of Pasadena, Texas, is a wanted man—wanted in almost every other neighborhood across the US. I suspect Horn would even be welcomed in liberal enclaves. Secretly, every liberal hopes to have a Joe Horn around when his possessions or the people he loves are
threatened.

Mr. Horn is admired by many because he blew away two career criminals who’d burglarized his next-door neighbor’s home. The two illegal aliens were slinking away from the scene of the crime, crowbar and loot in hand, when Horn stopped them dead in their tracks with his 12-gauge shotgun. …

Horn in action was how men sounded and acted BE: Before Emasculation. …”

The complete column is “Joe Horn: Wanted Man…And A Hero.”

Update (July 5): I wrote: “Confronted with a home invader, there’s precious little a homeowner can do to divine the intentions of the intruder.” And “Someone eager to violate another’s inner sanctum will be more than willing to violate the occupant.”

I’m dismayed that on this very blog, people are still whining and crying for the loss of brutes who were probably perfectly prepared to kill if the muse struck them. I’m amazed at the watered-down waffling (with a few commendable exceptions) that has ensued, each writer straining to sound more empathetic about the intruders than the next.

Look at this thug, Hernando Riascos Torres, for heaven’s sake! What about this specimen, Diego Ortiz?

Fancy your little girls lying in their pink cots as these “people with families” roam your home? I have to say that the oozing for evil unfolding on my blog is more twisted than the evil incarnate itself.

Update II: Marx Was Partly Right By Tibor Machan

BAB's A List, Individualism Vs. Collectivism, Private Property, Socialism

Update I (June 29): I’m please to bring you a piece by BAB A-Lister, Tibor Machan. Tibor holds the R. C. Hoiles Chair in Business Ethics and Free Enterprise at Chapman University and is research fellow at the Hoover Institution, Stanford, CA. He is editorial advisor for Freedom Communications, Inc., which includes the errant Orange County Register. Well, at least our Tibor still features on the editorial page. Tibor has also recommended my column, for which I am grateful (www.Tibormachan.com).
Update II: Tibor is on hand to answer your questions. Make the most of the opportunity.

MARX WAS PARTLY RIGHT
By Tibor Machan

Most literate people know that first on the list in Karl Marx & Frederick Engels’ Communist Manifesto of what needed changing to achieve socialism is the abolition of the right to private property. This follows, of course, from the very idea of socialism, which sees humanity or society as an organic body, akin to a termite colony. Individuals no longer exist in such a system, so privacy and private property must go, too.

Marx also made a prediction that in modern democracies there wouldn’t be a need for violent revolutions because the citizenry will get rid of the legal protection of private property through the electoral process. Too many people will get fed up with the volatility of freedom, including the free market place, and gradually achieve socialism by voting in politicians who will eliminate the obstacle of legally protected private property rights to central planning.

Marx thought that central planning would serve society well but he based this idea on his confidence that human nature will change. Instead of people wanting to achieve various goals of their own, they will in time come to aim only for the public good. He believed that once matured, “the human essence is the true collectivity of man.” The new man, then, will not be like you and me or anyone today.

This is an important element of socialism and central planning because only if it is true will the theory of public choice, which completely undermines confidence in central planning, be avoided. Public choice theory addresses human being as they are now, not as they would turn out to be in Marx’s vision of a socialist society. If Marx is wrong and human nature will not change, then public choice theory shows that central planners will make a mess of things, not help out at all. Central planners, being ordinary humans, will aim at fulfilling their own agendas, not some vague public purpose.

A unified, one-size-fits-all public purpose makes sense within the context of the Marxian idea of the new man, one who cares nothing for himself or herself, only for the whole society. This is like people in a team or orchestra who are not focused on their own private agendas but that of the group. It works fine in small organizations which human beings join voluntarily because they do in fact promise to fulfill their own goals, only with the aid of other people. But in Karl Marx’s picture no need for voluntary joining exists. People will be born as socialists, by their very nature.

Because the Marxian idea is myth—history is not driving us toward socialism and the new man—the socialism aimed for by Marx and his followers has to be brought about coercively, by brute force–see Stalin or Hugo Chavez, as examples. This is even so when people elect politicians whom they entrust with public service because those people, of course, haven’t a clue how to achieve some mythical comprehensive public good. So even when elected by majorities, as Max thought they would be in democracies, promoters of socialism will be thoroughly stymied by their own unavoidable ignorance of what really benefits us. We are not all the same; indeed humanity as it actually is consists of a huge variety of individuals with an equally huge variety of different ways of attaining their best interests. No central planners can achieve this, ever.

But Marx did have it right that in their impatience and frustration with the free market, people will attempt the impossible. (Marx, of course, didn’t think socialism was impossible.) Consider, for example, environmental issues. Many are panicked about how well protected private property rights leave much of the environment uncared for–e. g., rain forests, the polar bear, etc., etc. So they then wish to entrust the care to politicians and planners. They envision some kind of supreme plan that will bring about a healthy ecosystem. But no one really knows what that is and planners are just as prone to mismanage it all as individuals, only the scope of their mismanagement is far greater, so the damage they do is huge. (In fact most of the current environmental mess is due to government central planners who built ridiculously huge projects using government’s power to violate private property rights, as in the case of the TVA and the many humongous dams around the globe.)

Impatience is what produces all this. It is true that with a regime of legally protected private property rights no grand scheme is in the offing. Yet that impossible dream motivates too many people, however futile it is from the start. The only real prospect is the piecemeal, strict private property approach and that is what encourages—though it does not guarantee—the responsible use of the environment.

Just as the perfect is the enemy of the good, so the myth of guaranteed environmental health is the enemy of a reasonably healthy one. Too bad, but Marx did have a point about people’s impatience. Yet certainly it isn’t going to lead to any socialist utopia.

Updated: The Loathsome Liberal ‘Shshaun’ Is Back

Barely A Blog, IlanaMercer.com, Internet, Left-Liberalism And Progressivisim, Private Property

The loathsome ‘Shshaun’ is back

I thought I recognized his style, but I assured myself that no one could be as brazen as to sneak back onto this space after being told never to come back pursuant to performances such as this one on Jewcy.com, (look for posts by ‘Shshaun’; he fouled up the discussion board), and this, an example of his early “efforts.”

Yes, it seems that the loathsome Canadian ‘Shshaun’ has snuck back onto this forum, after being ousted. This worm now goes by the name “Gumdrops.” His IP numbers can be traced from here:

Bell Canada BELLCANADA-16 (NET-76-64-0-0-1)
76.64.0.0 – 76.71.255.255
Sympatico HSE HSE20070629-CA (NET-76-67-12-0-1)
76.67.12.0 – 76.67.15.255

I thought I recognized the grating style. (Likening his own “thinking” to that of Socrates in an erased post was the real give-away.)

The next step is a stalking complaint and a letter to abuse@sympatico.ca.

Please, y’all, re-read the posting policy, and always provide a real e-mail address when posting to this blog.

Update (May 26): Liberals believe that they can trespass and trash private property—corporeal or other—and still demand that their identities remain private. That’s rich—and that’s a reality in the universe loathsome ‘Shshaun’ shares with the likes of Rev. Wright, Obama, and his lowly Mama.

Not on this mama’s property.

Here’s an excerpt from our Posting Policy: “No information or content of any kind that you submit or make available to ILANA MERCER, or post to BarelyABlog.com, shall be deemed confidential.”

Of course, most posters to BAB are honorable. Therefore their host honors their privacy.