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Originally posted by 44soulslayer
- Congressman Ron Paul, 2002.
........................Liberty means free-market capitalism...........................
At the end of the 1950’s, in the last days of Eisenhowers presidency………. The large internationally orientated New York banks had already begun preparing to abandon U.S. investment for greener pastures abroad.
Henry Ford once stated that he would gladly pay the highest wages in industry, sell the cheapest car, and in the process become the world’s richest man-all by using the most modern technology.
Unfortunately, by the early 1960’s the most influential voices in the U.S. policy establishment had forgotten Fords lesson. They were to obsessed with making a ‘quick buck’ by the typical merchants game of ‘buy cheap sell dear’.
By the end of the 1950’s the U.S. establishment had walked away from investment in rebuilding American cities, from educating a more skilled labor force and from investing in a more modern factory production and improving the national economy.
Instead, their dollars flowed out of the United States to grab up, ‘on the cheap’ already operating industrial companies in western Europe, South America or the emerging economies of Asia.
Systematic cheating on product quality became the fashion of the day. Milton Friedman and other economists preferred to call this ‘monetarism’ but it was nothing other than the wholesale infestation of ‘buy cheap sell dear’ methods into America’s productive base. Pride in workmanship and commitment to industrial progress began to give way to the corporate financial ‘bottom line’ a goal calculated evry three months for corporate stockholders.
By 1958, the amount of steel used in a General Motors Chevrolet was cut to half that of the 1956 model. Needless to say, highway death rates soared as one result.
…………U.S. blast furnaces poured out 19 million tons of steel for automotive use in 1955, but by 1958 this had fallen to 10 million tons. By the early 1960’s, ‘what’s good for General Motors’ was becoming bad for America and for the world.
U.S. industry had been persuaded to commit systematic suicide, cheating the customer to make up for falling profits.
…………………………most Americans would not realize the real implications of this 1960’s ‘post-industrial’ drift for another ten and twenty years.
Originally posted by 44soulslayer
reply to post by carslake
Your economic beliefs are closer to Keynes than socialism.
It is your highly subjective opinion that the free market does not work. Indeed, one could draw upon direct evidence that a shift towards free market economics has a positive impact as:
1. Post war economies were based on Keynesian ideas of governmental oversight of the market. The economies were grim and did not allow social mobility and prosperity because of the entrenchment of wealth within those governmental institutions and established industries.
2. Reagan and Thatcher moved towards the economic concepts of Hayek and Friedman. They dismissed the Keynesian ideas which had held back their economies. Thus 1980s onwards, the economies of those two countries expanded with a massive leap forwards.
Thatcher’s eleven year rule in Britain had produced equally disastrous results. Real estate speculation and a vastly increased financial services ‘industry’ in the City of London obscured the fact that Thatcher’s economic policy severly discriminated against industrial investment, and against modernization of the nation’s deteriorating public infrastructure, such as railways and highways.
3. India had a socialist model of government and economics. Their economy was pathetic for a very long time. Compared to the free market based economies of the tiger nations (Taiwan, Singapore, S. Korea etc), who achieved real growth rates in excess of 10%.
4. India switched to free market based economics via a series of liberalization policies, which opened up their economy. I'll leave you to judge the fruits of that action... I think the rampant nature of their economy does somewhat speak for itself.
Socialism does not engender freedom because in its core it relies upon the government to be the answer for everything. Socialism reduces a human to being a number; a part of a group; a mob which appropriates the hard earned wealth of others.
Free market capitalism believes in meritocracy- the American dream- the ideal that a man can have whatever he works for and if he is worth his salt.
Feel free to respond with a counterpoint if you wish, but I highly doubt you will be able to convince me, or indeed anyone, that socialism is true freedom!