This Day in History
This Day in History
provided by The Free Dictionary
| Complete Text of Federalist Papers Federalist 1 through Federalist 85 Selections from Jefferson's Papers List of Subjects Abuse of Power by Supreme Court Enumerated Powers- General Welfare Public Debt and Banking Final Draft, Declararation of Independence Washington's Farewell Address Page 1: Desire to retire Page 2: On Unity Page 3: On Constitution Page 4: On Political Parties Page 5: On religion and government, public debt, and taxes Page 6: International relations |
| More Recommended Reading |
| Blogs |
| In God We Trust |
| Christian Patriots USA |
Madison's Notes on Philadelphia
Convention
May 14 - September 17, 1787
Convention
May 14 - September 17, 1787
| Wisdom of the Founders |
| Recommended Reading |
| WEBSITE NAVIGATION |
| SUBSCRIBE To Our Newsletter |
| Read Latest Posts, essays on Politics, American history, current events and Special announcements right from your email in-box |
| Crony Capitalism is Hazardous to Your Wealth |
Market Capitalism
Market Capitalism is the natural way man interacts with others to satisfy
his needs. It is the oldest economic system in existence. Market
Capitalism, based on Nature’s Law of “spontaneous order”, has been the
dominant economic system in America since its settlement over four
hundred years ago. In a spontaneously ordered economy such as ours,
millions of people make billions of economic decisions daily, based on
their perception as to what is in their own best interest. The principle of
spontaneous order arranges these decisions into a natural system that
results in the highest possible level of prosperity for the maximum
number of people.
The principle of spontaneous economic order is the foundation of our
capitalist system. The liberty of individuals to make their own personal
economic decisions and live with the consequences is protected by the
Constitution in Article I, Section 10 and defended by Jesus in Matthew
20: 1-15. In order for it to function properly requires a relatively honest
and moral people. One of the legitimate functions of state and local
governments is to establish and enforce laws to protect the public from
dishonest, unscrupulous and fraudulent business practices, and little
else. At the federal level, the national government is given the power to
provide the same protections for buyers and sellers across state lines.
That is the primary meaning of the “interstate commerce clause” in
Article I, Section 8 of the Constitution.
Central Planning
At the other end of the economic spectrum is the centrally planned
economy. A centrally planned economy is absolutely necessary to the
existence of a communist society just as a free market economy is
essential to maintaining the freedoms and liberties of a free society. In a
centrally planned economy, government bureaucrats attempt to predict
needs and organize resources to provide for an equal distribution of
goods and services to everyone. The result is inefficiency, shortages,
and a general decline in overall prosperity.
Central planning does not and cannot work because no individual or
collection of individuals has the intellectual capacity or management
skills to anticipate and fulfill the needs of any group of people larger than
those of an individual family. Even that does not always result to
everyone’s satisfaction. The current trend of the American government
away from free market capitalism and toward the socialist ideal of a
centrally planned and bureaucratically directed economy is not
sanctioned by our Constitution or by the Judeo-Christian traditions of
our culture
Crony Capitalism
Crony Capitalism is the “bridge” between a market economy and
socialism or communism. It occurs when there is a “marriage” between
the government and the economy. Just as marriage between government
and religion always ends in disaster for both, so marriage between
government and the economy eventually ends in disaster. Crony
Capitalism is the second most critical factor in poverty and economic
dislocation in the world today, socialism or communism being the first.
Crony Capitalism gained its foothold in America at the beginning of the
progressive era at the turn of the twentieth century. It has progressed
during the last few decades to the point of corrupting both our political
and economic systems. Major businesses and entrepreneurs must
cultivate the favor of government in order to survive and prosper.
Market Capitalism is the natural way man interacts with others to satisfy
his needs. It is the oldest economic system in existence. Market
Capitalism, based on Nature’s Law of “spontaneous order”, has been the
dominant economic system in America since its settlement over four
hundred years ago. In a spontaneously ordered economy such as ours,
millions of people make billions of economic decisions daily, based on
their perception as to what is in their own best interest. The principle of
spontaneous order arranges these decisions into a natural system that
results in the highest possible level of prosperity for the maximum
number of people.
The principle of spontaneous economic order is the foundation of our
capitalist system. The liberty of individuals to make their own personal
economic decisions and live with the consequences is protected by the
Constitution in Article I, Section 10 and defended by Jesus in Matthew
20: 1-15. In order for it to function properly requires a relatively honest
and moral people. One of the legitimate functions of state and local
governments is to establish and enforce laws to protect the public from
dishonest, unscrupulous and fraudulent business practices, and little
else. At the federal level, the national government is given the power to
provide the same protections for buyers and sellers across state lines.
That is the primary meaning of the “interstate commerce clause” in
Article I, Section 8 of the Constitution.
Central Planning
At the other end of the economic spectrum is the centrally planned
economy. A centrally planned economy is absolutely necessary to the
existence of a communist society just as a free market economy is
essential to maintaining the freedoms and liberties of a free society. In a
centrally planned economy, government bureaucrats attempt to predict
needs and organize resources to provide for an equal distribution of
goods and services to everyone. The result is inefficiency, shortages,
and a general decline in overall prosperity.
Central planning does not and cannot work because no individual or
collection of individuals has the intellectual capacity or management
skills to anticipate and fulfill the needs of any group of people larger than
those of an individual family. Even that does not always result to
everyone’s satisfaction. The current trend of the American government
away from free market capitalism and toward the socialist ideal of a
centrally planned and bureaucratically directed economy is not
sanctioned by our Constitution or by the Judeo-Christian traditions of
our culture
Crony Capitalism
Crony Capitalism is the “bridge” between a market economy and
socialism or communism. It occurs when there is a “marriage” between
the government and the economy. Just as marriage between government
and religion always ends in disaster for both, so marriage between
government and the economy eventually ends in disaster. Crony
Capitalism is the second most critical factor in poverty and economic
dislocation in the world today, socialism or communism being the first.
Crony Capitalism gained its foothold in America at the beginning of the
progressive era at the turn of the twentieth century. It has progressed
during the last few decades to the point of corrupting both our political
and economic systems. Major businesses and entrepreneurs must
cultivate the favor of government in order to survive and prosper.
Page 1 Page 2