But Obama Can't Repeal Economic Law
Sheldon Richman's piece at FEE.org is an excellent wrap up of what the classical liberal tradition teaches concerning the limits of government, using the election of Obama as the hook.
Today's political leaders, regardless of party and including, alas, Barack Obama, operate with this pre-modern mentality. We saw it throughout the presidential campaign, and heard its words when Obama said, "There is nothing we can't do, nothing we can't accomplish if we are unified."
This is opposite of the classical-liberal insight, which can be summed up with this bumper-sticker slogan: Economics. It's not just a good idea. It's the law.
Because there are economic laws, there are limits to what "we" can do and how we can do it. (By we, of course, Obama doesn't mean the spontaneous social order; he means the state and deliberate planning.) We cannot raise wages or create jobs or eliminate poverty or make medical care cheap and widely available -- or do any of the other things politicians promise -- by decree. But we can move toward those goals by freeing the market, the undesigned yet orderly process that distills the knowledge and wisdom of the people and rewards entrepreneurs for solving problems....
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Comments (17)
Comments (17)
Michael A. Clem
Good article by Sheldon! Really gets to the heart of the problem.
Published: November 7, 2008 8:25 AM
Lester Hunt
I guess people find his "there is nothing we can't do" inspiring because they think that by "we" he means them. Does he? Maybe he is confused about that too, maybe the idea is that in some mystical way they are the government.
Published: November 7, 2008 8:55 AM
J. Chris Folsom
Sorry, Jeff but I disagree. Once total control of all life is vested in the hands of the state, the state will wither away and everyone will live in a world of gumdrops and rainbows.
http://www.youtube.com/watch?v=k9B_6PH4dhU
Published: November 7, 2008 10:22 AM
Timothy B. Erskine
I am not familiar with the work of Laurence Summers. Is there anything on this blog which addresses the selection of the gentleman to SecTreas.
Published: November 7, 2008 10:41 AM
Dennis
"the market, the undesigned yet orderly process that distills the knowledge and wisdom of the people and rewards entrepreneurs for solving problems...."
Echoing Mises, I would add that the market economy, and no other form of social/economic organization, establishes the vast framework of money prices without which economic calculation, and hence rational human activity, would be impossible.
Mr. Obama and his cadre of advisors, supporters, and economists are extremely fortunate that they can parasitically utilize the price framework established by the (albeit hampered) market economy. Without this framework, they would be literally "groping in the dark," and the vast majority of us would be dead due to the inadequate production of life's most basic necessities.
Published: November 7, 2008 10:47 AM
Book 'em Danno
An "ism" has self-fulfilling prophecy written into it. But it is important to separate means and ends. Sometimes socialism is means, sometimes it is ends. A mass of people want socialism via the presidency and at the same time, it is socialism enabling the masses to create socialism via the presidency. What is more, isn't the presidency itself a socialist position?
How to get off this merry-go-round?
Published: November 7, 2008 10:58 AM
David Spellman
....when Obama said, "There is nothing we can't do, nothing we can't accomplish if we are unified."....sounds like what they said when they were building the tower of Babel. We know how close that project got to Heaven.
Published: November 7, 2008 11:22 AM
Natalie
Does anyone here really believe that Obama thinks over what he's saying? He's just saying some nice generic phrases that appeal to his supporters. He's a talking head, a facade for the forces that want to continue destroying freedom in this country.
Published: November 7, 2008 1:16 PM
Book 'em Danno
How dare you, Natalie. That's racist!
Published: November 7, 2008 1:26 PM
J. Chris Folsom
Does anyone here really believe that Obama thinks over what he's saying? He's just saying some nice generic phrases that appeal to his supporters. He's a talking head, a facade for the forces that want to continue destroying freedom in this country.
Yep. Pretty much vague and pointless rhetoric. That's the point though. That's how you get the psychotic populace to project all of their hopes on to him. Any meaning in any of Obama's phrases would certainly create cognitive dissonance in at least one member of his audience, which would break them out of the trance they are in. When you're running on 100% rhetoric, any one can see exactly what they want to see.
Even his physical characteristics play into him being the perfect agent of evil. White people see a white person, and blacks see a black person. His Christian supporters think he's Christian. His Muslim supporters think he's Muslim. His Atheist supporters think he's Atheist.
Published: November 7, 2008 1:54 PM
Unicorn67
after reading this article and reflecting on the statement about the crowds chanting Obama's name, one cannot help but feeling a little scared about this. I see the same reactions from Sadr followers in Iraq, Chavez followers in Venezuela, and supporters of Castro in Cuba. There was even a soviet flag waved in one celebration. I would hope this is not a sign of the changes Obama talks about.
Published: November 7, 2008 3:48 PM
Danny
Unicorn -- "I see the same reactions from Sadr followers in Iraq, Chavez followers in Venezuela, and supporters of Castro in Cuba."
I suspect with Chavez and Castro, those crowds that are chanting are likely doing so under threat (or in exchange for food), and have no fantasies about the reality underwhich they live...as opposed to those chanting Obama.
Published: November 7, 2008 4:28 PM
theblob
Danny, you made think about how Sowjet citizens were fully aware that you couldn't believe newpapers and politicans, while Americans just weren't.
Published: November 7, 2008 6:23 PM
laj
Poor americans!
http://change.gov/americaserves/
Obama can do anything regardless of what economics says.
Published: November 7, 2008 9:34 PM
Ball
Where can I get that bumper sticker?
Published: November 8, 2008 3:31 PM
prettyskin
The people who are trying to maintain empires do it by manipulating the people they are trying to conquer.
I do see it as a different face doing the same looting of government or better yet looting of taxpayers. White man corrupted politics spilled on black man.
Published: November 9, 2008 5:32 PM
nick gray
You can't call us white! That's racist! I am an Aryan-Australian, with cream-coloured skin. Uc creams got feelings too, you know!
Obama- the Audacity of rhetoric!
Published: November 9, 2008 11:52 PM