Economic Myths #11 – The Mixed Economy

[First published on Free Life]

The world’s political systems today are, generally, neither fully despotic on the one hand nor completely free on the other. Instead, most of us languish under so-called “social democracy”, a curious mixture in which a degree of sovereignty in the form of voting rights reside in the citizenry while political leadership and control remains distinct in the form of various functionaries such as Presidents, Prime Ministers, Congressmen and Members of Parliament.

Continue reading
Advertisement

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).

Continue reading

One Law for All

One of the obfuscating features of sociological commentary – whether it takes place in academic tomes or in popular magazines – is the tendency to describe the subject matter in terms of vast, overreaching abstractions. For instance, “the market” does X, “the government” does Y, “companies” do Z, and so on. Such categorisations are not, of course, unimportant; the use of shorthand is often needed as a clear identification of particular groups of individuals, each of whom share a common feature relevant to the discussion. However, the fact that every group is, indeed, nothing more than a group of individuals is precisely what is forgotten if the use of these abstractions is taken too far.

Continue reading

Freedom – the Law of the Jungle?

It is often asserted that a system of free market capitalism reduces everyone to the level of animals, subject to the “law of the jungle”. Similar emotive epithets accuse capitalism of being little more than a “dog eat dog” or “winner takes all” economic system. However, as we shall see now, nothing could be farther from the truth.

Continue reading

Freedom – The Real Third Way

The economic history of the twentieth century is often summarised as some kind of big battle between unfettered capitalism on the one hand (as supposedly demonstrated by the United States) and full blown socialism/communism on the other (as the Soviet Union was supposed to have been).

Continue reading