I take a lot of my inspiration for public writing, blogging, etc. from George Mason University’s Don Boudreaux. Over the last several years, Professor Boudreaux has waged a prolific letter-writing campaign for economic literacy. Here’s an excellent example in which he dissects the claim that capitalism is too materialistic. I plan to incorporate some of his insights into my discussion of “common objections to capitalism” at Mises U.
Source link: http://blog.mises.org/10258/boudreaux-on-dionne-materialism-and-capitalism/
Boudreaux on Dionne, Materialism, and Capitalism
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Link does not work.
Actually, the link is fine. It’s the site that is having issues.
Economic Numbskulls
Saturday, July 11, 2009
Capitalism Has Nothing To Do WIth Materialism!
Materialism really has nothing to do with capitalism unless the definition of capitalism is somehow corrupted by materialism!
What I mean is that materialism is a type of spiritual disease that cannot see beyond the object. Constrained by that mind set it is easy to understand how the intellect is squeezed into a narrow box which makes it difficult to appreciate the magnificence and complexity of capital and its structure.
Then comes the audacity of these narrow-minded materialists to pronounce upon what they perceive as ‘capitalism.’ They cannot comprehend what it is and because of their affliction they are the cause of distortions in the economy, yet they have the gall to associate capitalism with materialism.
This is an example of the ignorant having the ignorance and arrogance to speak about something that they are ignorant about!
Don Boudreaux has the extraordinary ability to rip apart the interventionists’ arguments in just 1 or 2 short paragraphs.
He also blogs here:
http://marketcorrection.powerblogs.com/
Most people know virtually nothing about supply side economics. A supply sider has been grossly and inaccurately defined as anyone who favors cutting taxes in any form for any reason.
The main principle of the supply side model is the removal of wedges that hinder individuals from trade benefiting both. Central to this is the Laffer curve that while originally graphing tax rates agains tax revenue is actually a model demonstrating when hindered transactions begin to destroy production and prosperity.
This is the thrust of Boudreaux’s post.
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