Fake Libertarianism

04May09

Laissez faire economics ( or free market fundamentalism, by another name) is supposed to be all about letting the markets manage themselves, without government intervention.  The reaility is the same reality of communism. It’s just a shell game designed to give power to the power-holding elites.

Because free markets need governmental regulation in order to stay “free.” If they aren’t regulated, then rich corporations begin to dominate the markets and they squeeze all of the smaller players out, creating monopolies, oligopolies, trusts, and governmental corruption by bribing politicians.  They get socialized risk while retaining ownership over the capital they’ve earned, however they earn it.

Why do we live in this kind of greedy world?  It’s because some time ago the wealthy elite have sold us on the idea that greed is good. Let the free markets run and let everyone earn their way to nirvana by their own graft, brains, and sweat. That sure sounds good but the reality is debt for the commoner and greater and greater wealth for the wealth holder (the more wealth you have the easier it is to get wealthier). What a deal, right?  The rich get richer and the best part is that they’ve also convinced everyone that it’s the best system that ever existed.

This is an example of fake libertarianism.  The idea is that by letting the markets run wild and free everything will work out to reward those people with ingenuity and heroic effort. If things don’t work out for you it must mean that you’re lazy and deserve what you don’t have. That’s the idea… of course the reality is that the real creative, hardworking, people get paid a fraction of the millions that the CEOs pull down. Have you ever met a CEO? They may be hardworking and bright but they are hardly any more hard working and bright than the average poorly paid philosophy or art graduate.

I know you don’t need it, but you have my permission to stop worshipping people simply because they are billionares who happened to be in the right place, at the right time, and knew the right rich people.

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