Friday, April 29, 2016

The Free Market's user's manual.

And yet, people keep blaming the free market for problems caused by government intervention. This is starting to get boring.

It shouldn't be hard to understand how to manage a free market. We have the writings of Adam Smith, John Locke, Milton Friedman, F.A. Hayek, Ludwig von Mises, and many more.

Imagine you have a car, and you read the owner's manual. It tells you things like the grade of oil to put in the engine, how many quarts, and how often to change the oil. It tells you what octane gasoline will allow your car to perform at its best. It lists the proper tire pressure, and even has a schedule to bring the car to the dealership for rountine maintenance on things like the coolant system, the brakes, and the spark plugs.

You read the manual carefully, then you pour vegetable oil into the radiator, fill the tank with diesel fuel when it requires 87 octane, and use orange juice as engine oil.

You are surprised that the car doesn't even make it down the driveway?

So why are people blaming the free market, when they replaced real money with paper, turned banking into a cartel with a central bank like the Federal Reserve, subsidized and bailed out corporations that should have been allowed to fail, and imposed a progressive income tax that punishes people who produce more, while paying people not to work throught a welfare state system?

Didn't they read the owner's manual? Didn't they read anything by Adam Smith or Hayek?

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