{"id":10533,"date":"2019-11-14T07:51:43","date_gmt":"2019-11-14T12:51:43","guid":{"rendered":"https:\/\/www.justrightmedia.org\/blog\/?p=10533"},"modified":"2019-11-21T06:51:39","modified_gmt":"2019-11-21T11:51:39","slug":"631-let-us-alone-laissez-nous-faire","status":"publish","type":"post","link":"https:\/\/justrightmedia.org\/blog\/archives\/10533","title":{"rendered":"631 – Let us alone! Laissez-nous faire!"},"content":{"rendered":"

\"Atlas\"

Government control in the field of economics is nothing new to humanity. Central planning, wage and price controls, taxes, stimulus spending, social safety nets, trade restrictions, regulations, crony favoritism \u2013 these have all long been assumed to be among the normal and accepted functions of government.<\/p>\n

In 17th century France, recognizing that wealth had to be produced <\/strong>before it could be taxed, the king\u2019s (Louis XIV) chief adviser Colbert was told \u201cLaissez-nous faire<\/strong>\u201d (let us alone) after asking the business community what the king could do to stimulate \u2018economic growth\u2019 in the nation. That phrase has come to symbolize and describe the nature of a free market<\/strong>.<\/p>\n

Indeed, no matter what the form of government \u2013 whether an absolute monarchy or a free society based on individual rights \u2013 the creation of wealth is fundamental for any society to survive<\/strong>. In the attempt to create such wealth, various forms of forced labor and production have throughout history been the primary means by which the state-controlled economies approached that challenge.<\/p>\n

For Western societies, all that changed with the discovery and emergence of capitalism over the past two centuries or so. Under the condition of \u2018laissez faire,\u2019 (capitalism), more people than ever before were able to lift themselves out of poverty, thanks to the unprecedented wealth that could be created in a market relatively free from government coercion and control.<\/p>\n

This in turn led to the discovery of a number of fundamental principles \u2013 fundamental, that is, to the creation and maintenance of a free society. In the evolving culture of individualism founded on individual rights, freedom and capitalism<\/strong> reigned instead of kings and queens. Those conditions, and the unprecedented wealth and innovation spawned by them, became the distinguishing characteristics of Western culture<\/strong>.<\/p>\n

Unfortunately, the political idea arose that the demonstrated benefit of capitalism – freedom – could be \u2018mixed\u2019 with the promised benefit of socialism <\/strong>\u2013 security – thus leading to the temporary condition called the \u2018mixed\u2019 economy<\/strong>. And as the advance of socialism inevitably becomes the predominant part of the \u2018mix,\u2019 rising taxes, government deficits and debts, and an increasing rate of poverty all grow hand-in-hand, and continue to do so at an alarming rate.<\/p>\n

History\u2019s lesson of \u2018laissez-faire\u2019 has yet to be learned or understood – that the political condition of Freedom and the economic condition of Capitalism <\/strong>cannot survive in a so-called \u2018mixed economy.\u2019 With the operative principle of capitalism being consent, and the operative principle of socialism being coercion<\/strong>, the two opposing moral principles simply cannot co-exist.<\/p>\n

Mixing poison with milk is an unhealthy mix; the poison will win every time. As long as the so-called \u2018mixed economy\u2019 <\/strong>continues to add more and more of the poison of socialism to the mix, eventually the only thing Left will be the poison: socialism.<\/p>\n

The creation of true wealth depends upon freedom and the economic condition of capitalism<\/strong> that naturally arises in its environment free of coercion. And that\u2019s why freedom and capitalism are the only two \u2018mixes\u2019 that fit together Just Right.<\/p>\n

<\/a> <\/a><\/p>\n

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Government control in the field of economics is nothing new to humanity. Central planning, wage and price controls, taxes, stimulus spending, social safety nets, trade restrictions, regulations, crony favoritism \u2013 these have all long been assumed to be among the normal and accepted functions of government. In 17th century France, recognizing that wealth had to [Continue Reading]<\/a><\/p>\n","protected":false},"author":3,"featured_media":10534,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12,596,28,629,6,120],"tags":[],"class_list":["post-10533","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-audio","category-ideas","category-latest","category-objectivism","category-politics","category-socialism","issues-capitalism","issues-freedom","issues-laissez-nous-faire","issues-socialism-2","personalities-ayn-rand","category-12-id","category-596-id","category-28-id","category-629-id","category-6-id","category-120-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/posts\/10533","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/comments?post=10533"}],"version-history":[{"count":4,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/posts\/10533\/revisions"}],"predecessor-version":[{"id":10547,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/posts\/10533\/revisions\/10547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/media\/10534"}],"wp:attachment":[{"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/media?parent=10533"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/categories?post=10533"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/justrightmedia.org\/blog\/wp-json\/wp\/v2\/tags?post=10533"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}