Economic Myths #4 – Profits are Evil!

[First published on Free Life]

One of the elements of a capitalist system that induces purple-faced rage amongst statists and progressives is the existence of profit. This residual – the amount left over once an entity has deducted its costs from its revenue – is said to line the pockets of greedy shareholders while exploiting labourers and consumers.

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Economic Myths #3: We Need More Jobs

[First published on Free Life]

During an economic malaise one of the endless reams of statistics to which pundits glue their eyes is the number of jobs that are either created or destroyed. The state makes “job creation” a central plank of its economic policy to put people back to work, and the impression that more people are being hired and fewer fired buoys their hubristic impression that we must be on the road to recovery.

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Economic Myths #2: Consumption Boosts Growth

[First published on Free Life]

The belief that economic progress is boosted by consumption is based upon the kind of misunderstanding that could be made only by intellectuals – the product of theorising that is completely detached from the common sense that everyone else possesses.

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Economic Myths #1: Rising Prices = Economic Recovery

[First published on Free Life]

Author’s Note: This is the first in a series of short posts which will seek to rebut popular, but wrong, economic beliefs.

One of the positive indicators of our so-called economic recovery bandied about not only in the media but also by our monetary lords and masters at the head of central banks is the idea that rising prices are a sign of economic recovery. This mistaken belief is part of a wider myth that views the economy as little more than a giant number – a number which, if going up, means things are good and getting better, and if going down means the situation is bad and getting worse.

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Making the State Irrelevant

Much of the pro-liberty movement (myself included) tends to focus on the role of education as the prime driver towards a freer world. Given that, ultimately, any regime is cemented in place by the will of the people, such a world is unlikely to thrive unless people are motivated to embrace their freedom while rejecting all forms of force and coercion.

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Is the Free Market Uncaring?

A distinct disadvantage of advocating for a society free from state interference is that winning either the rhetorical or emotional battle is a lot more difficult. Democratic socialists and redistributionists can effectively wear their bleeding hearts on their sleeves, forever declaring their care for the poor, the sick, the elderly, or whichever group is in need of their pitiful platitudes at any particular time. Libertarians, on the other hand, appear to advocate for nothing more than greed and selfishness by calling for the right of every person keep own his/her income. Surely this would be the slippery slope to each of us ferreting ourselves away in an increasingly atomised existence?

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The Ministerial Merry-Go-Round

How Britain’s Wars at the Top Could Sow Distrust in the State

2022 has seen the upper echelons of the British state locked in a game of musical chairs – and we still have two months left to go. This has been the year of two monarchs, three prime ministers, four chancellors and three/four home secretaries (depending on how one counts Suella Braverman’s non-contiguous terms).

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Optimism for Liberty

Browsing through a single day’s worth of articles on the libertarian website lewrockwell.com is enough to confront one with a smorgasbord of despair:

  • The bankruptcy of Western nations and their collapsing economies;
  • Increasing wars and overseas intervention;
  • Desperation to maintain Western-led hegemony;
  • Increased state censorship and invasion of privacy;
  • The dangers of state-sponsored medicine and disease control;
  • Digital enslavement;
  • The lack of integrity of the political class; official lies and corruption.
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Let us Despair No More – A Reply to Laurence Hughes

In a recent guest article for Free Life, the composer Laurence Hughes lamented, on his seventieth birthday, his relative lack of success in a culture that is waning in appreciation for the kind of art he has dedicated his life to producing:

The disappointment and disillusionment is now complete. As far as I am concerned, there is nothing left to aspire to or strive for. I just can’t be bothered any more. I have had enough. What a massive waste of time and energy!

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Rich vs Poor – a False Dilemma

Conventional thinking about social, political and economic matters tends to narrow the options available to a set of policies advocated by two, possibly three political parties of scarcely dissimilar ideologies. Any genuinely radical approach concerning these topics is abandoned given that the fundamentals are deemed to be beyond question. Thus, alternatives to these entrenched matters – such as whether the state should have any positive role at all in anything – are seldom given the light of day, let alone the opportunity of being debated.

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