Tuesday, May 16, 2006

The dearth of free trade

..From a speech by Roderick Long.

Now I like what Dr. Long says, but there were so
many "wings" (left and right) flapping around in
that speech I had to constantly duck so I left
without reading it all.

I thank Randall McElroy at Catallarchy for getting
to the meat of that pear.
Now I think the word "capitalism," if used with
the meaning most people give it, is a package-
deal term. By "capitalism" most people mean
neither the free market simpliciter nor the
prevailing neomercantilist system simpliciter.
Rather, what most people mean by "capitalism" is
this free-market system that currently prevails
in the western world. In short, the term
"capitalism" as generally used conceals an
assumption that the prevailing system is a free
market. And since the prevailing system is in
fact one of government favoritism toward
business, the ordinary use of the term carries
with it the assumption that the free market is
government favoritism toward business.

It ain't, and the corporation is a Big Granfalloon
given birth and suckled by The Biggest Granfalloon,
Mama bummint.

"The limited liability corporation is the rope by
which Capitalism hung itself." --Greg Swann