It is unfortunate that over the last twenty five years that the leaders of our nation have been clueless when it comes to keeping America on the economic path to prosperity. We have all asked the question, how did America become the most prosperous, wealthy and innovative country in the world over the last one hundred and fifty years? The answer to that question was the granting of property rights to the common man. No other nation in the world allowed for this right. Because of that concept, the opportunity for the individual to take on risk through entreprenuorship created a basis for markets and trade. This led to individual's making choices to better themselves. The basis for this prosperity is reflected by human action.
Unfortunetly the so called leaders within our Government, Republican or Democrat are more concerned about their own self interest vs. the people they were chosen to represent. Because of this inappropriate human action by the people in power we now have a financial system, housing market and economy in total collapse. Therefore the wizards in Washington are now deciding that interventionism is the solution to remedy our econmy. That concept is exactly what we do not need. We the people are asking for less government intervention and more freedom to prosper once again. But as Ludwig von Mises has stated "The government wants to arrogate to itself the power, which, in the free economy, is in the hands of the consumers" We are seeing this posturing by this administration every day. It is a travesty that issues are being addressed to the public in a capitalistic format, but the backroom dealings are clearly a form of socialism. I believe we have socialism in our economy. The lower class has had it for six generations and now the upper class has joined in, it is obvious by the bailouts given to Wall Street and the Banks. They are no longer taking on any risk, they are to big to fail. The only part of Capitalism left is found in the middle class, and that form of freedom is being taxed and regulated away.
After writing this blog I have to ask myself, have the progressives already taken Economics 398? Their is a pattern in this administration that reflects the writings of Ludwig von Mises, that are being used to transform one of the greatest nations on earth. We are clearly creating policy's that are taking us in the wrong direction as described in our readings, history has shown that.
I am enlightened and energized by this class. I find it very beneficial to me to be studying at a time when the readings pertain to the current government policy's. The progressives feel this is there time in history to redically change America, it will be short lived. I believe that freedom wiil prevail and we will once again become the greatest nation to prosper in.