Austrian Economists on our current dilemma

Important Books ^ | 2012 | Ludwig von Mises

[HannagansBride]

Quotation from Page 2 of the book Bureaucracy by Ludwig von Mises (preeminent leader of the Austrian School of Economics) Paperback edition by Important Books 2012. Available in the bookstore at Mises.org

https://store.mises.org/Bureaucracy-Paperback-P11312.aspx

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An American, asked to specify his complaints about the evils of progressing bureaucratization, might say something like this:

“Our traditional American system of government was based on the separation of the legislative, the executive, and the judicial powers and on a fair division of jurisdiction between the Union and the States. The legislators, the most important executives, and many of the judges were chosen by election. Thus the people, the voters, were supreme. Moreover, none of the three arms of the government had the right to interfere with the private affairs of the citizens. The law-abiding citizen was a free man.

But now, for many years and especially since the appearance of the New Deal, powerful forces are on the point of substituting for this old and well-tried democratic system the tyrannical rule of an irresponsible and arbitrary bureaucracy. The bureaucrat does not come into office by election of the voters but by appointment of another bureaucrat. He has arrogated a good deal of the legislative power. Government commissions and bureaus issue decrees and regulations undertaking the management and direction of every aspect of the citizen’s lives. Not only do they regulate matters which hitherto have been left to the discretion of the individual; they do not shrink front decreeing what is virtually a repeal of duly enacted laws. By means of this quasi-legislation the bureaus usurp the power to decide many important matters according to their own judgment of the merits of each case, that is, quite arbitrarily. The rulings and judgments of the bureaus are enforced by Federal officials. The purported judicial review is in fact illusory. Every day the bureaucrats assume more power; pretty soon they will run the whole country.

There cannot be any doubt that this bureaucratic system is essentially antiliberal, undemocratic, and un-American, that it is contrary to the spirit and to the letter of the Constitution, and that it is a replica of the totalitarian methods of Stalin and Hitler. It is imbued with a fanatical hostility to free enterprise and private property. It paralyzes the conduct of business and lowers the productivity of labor. By needless spending it squanders the nation’s wealth. It is inefficient and wasteful. Although it styles what it does planning, it has no definite plans and aims. It lacks unity and uniformity; the various bureaus and agencies work at cross-purposes. The outcome is a disintegration of the whole social apparatus of production and distribution. Poverty and distress are bound to follow.”

[TBP]

The wisdom of the Austrians.

[PGR88]

The bureaucrat does not come into office by election of the voters but by appointment of another bureaucrat.

AND the bureaucrat has usurped power via printed, fiat, Federal Reserve money, and the massive government debt it allows.

[Lazamataz]

We are so screwed

[SaveFerris]

[We are so screwed]

Yeah but we’ve got the upcoming Hallmark movie “Holiday Touchdown” so, there’s that to look forward to...

[Veracious Poet]

[wastedyears]

An Austrian man helmed the greatest economic turnaround in history.

[Worldtraveler once upon a time]

--- "We are so screwed"

Don't forget Obama's "advisor" who still teaches economics ad UC Berkeley.

"On the same night that Standard and Poor's downgraded the United States' top-level credit rating for the first time in history, Christina Romer, former chair of Obama's Council of Economic Advisers, didn't mince words when asked of downgrade's potential consequences. (h/t NewsBusters) The U.S. is 'pretty darn f**ked,' Romer said during a segment on Real Time with Bill Maher called 'How F**ked Are We?', after Maher asked what the new could mean for the U.S. economy."

S&P Downgrade: Ex-Obama Adviser Christina Romer Says U.S. 'Pretty Darn F**ked' HuffPost, 6 December 2017

[zeestephen]

wastedyears writes:

"An Austrian man helmed the greatest economic turnaround in history."

Are you referring to Adolph Hitler?

If yes...he did that by creating a Total War economy, followed by the confiscation of goods from conquered countries, and partly with slave labor.

[Sirius Lee]

Are you referring to Adolph Hitler? If yes...he did that by creating a Total War economy, followed by the confiscation of goods from conquered countries, and partly with slave labor.

Sort of like what the pedoglobalists are trying to do.

[Jan_Sobieski]

This may be the playbook by which the fascist system advances in the USA. Internment camps for all Christian Conservatives. Confiscation of their wealth to fund the war economy.

[wastedyears]

There was no civil war to end the Weimar era.

[zeestephen]

wastedyears writes: "There was no civil war to end the Weimar era."

I thought that was completely obvious.

Your point?

The thread I originally commented on was about the economic brilliance and political insight of the Austrian Economists.

I think we can both agree that Adolph Hitler was NOT a Free Market Capitalist.

[Veracious Poet]

Nothing To Say vs. Nothing New To Say vs. Nothing Left To Be Said... All noise, totally obliterating what scant signal remains.