Libertarians – a Religious Sect in Economy

| April 22, 2014 | 0 Comments

libertariansLibertarianism, or the concept that liberty is the highest political end, is a fashionable economic philosophy. It is based on an excessively credulous understanding of the term freedom.

Libertarians organize training seminars to repeat just like sectarians that regulating economy, ”aid to the poor” programs and paying taxes are all bad. We all like the part about taxes, but let us give you an explanation why libertarianism is just a naive belief.

Markets regulating themselves? You must be kidding.
Libertarians believe that regulating economy is bad and free markets regulate themselves. Supply shortage in one industry leads to rise in price. According to the libertarian religion, capital immediately begins to flow in the direction of the shortage. But in real life, it takes time for this to happen as long as the investor will have to build the required infrastructure in order to meet the demand for the certain product. You don’t need to be a genius to understand that building factories, roads, railways and so on may take years and during these years a rich monopolist may come up with a more lucrative idea and break your libertarian heart.

Monopoly is better?
Libertarians firmly believe that country is bad. But are monopolists better? Libertarianism connoisseurs forget that their favorite free market will lead to monopoly. Monopolists restrict personal freedom in the same way as country does. And even if a scarce kind of a country exists in a libertarian society, the richer monopolists will always be able to bribe officials and ensure their economic dominance.

Imminent libertarians and democracy
For all fans of democracy – do you know who were the economic team of the Chilean dictator Augusto Pinochet who killed and tortured thousands of people? They were the so-called Chicago Boys, good students of the American libertarian and monetarist Milton Friedman. So where are the good democrats – why don’t they send them to prison?

What we need for our future is a new system for market regulation. No matter whether we will have to bear the idiocy of the self-regulating markets, or depend on the inclinations of the anti-monopoly commissions to get or not to get bribed, we need a change. We, Bitter Bananas, hope that new computing technology will help humanity organize economy in such a way that we will be able get through crises without suffering the whims of markets.

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