Thursday, 15 January 2009

Capitalism - The Answer to All Our Problems.

Brilliant article from the Mises Institute here.

I'll take the liberty of copying and pasting the last three paragraphs below.

Capitalism needs no adjustment. It needs to be understood and put into practice. Not only is capitalism never the cause of a financial crisis, it is always the cure. Government intervention is never ever under any circumstances the solution to any problem, large or small, economic or otherwise. When will men ever learn that more Government is not only never the solution, it is usually part of the problem?

Real capitalism — that is, capitalism based on secure private-property rights, sound money, the division of labor, social cooperation, freedom of contract, freedom of association, voluntary exchange, and the absence of government control, oversight, and regulation — is the answer to the current economic crisis.

Not state capitalism, not crony capitalism, not mixed-market capitalism, not fascism and interventionism under the guise of capitalism, but unfettered, laissez-faire, free-market capitalism.

Go on. Treat yourself. Read the whole article and the books it recommends. I have.

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