A Quote by Jeffrey Tucker
Free markets are the real people's revolution.
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I'd like to talk about free markets. Information in the computer age is the last genuine free market left on earth except those free markets where indigenous people are still surviving. And that's basically becoming limited.
It is not uncommon to suppose that the free exchange of property in markets and capitalism are one and the same. They are not. While capitalism operates through the free market, free markets don't require capitalism.
We need a revolution in development thinking and practice. Foreign aid, debt relief, family planning, democracy, education, and free markets have not succeeded.
These people say free markets are the way to go, but wink, wink, the markets aren't really free. They're just a protectionist racket, and we have to pay for it all on every level. It's really quite extraordinary, and immoral, and illegal. These things need to be named, and shamed, and outed, and mocked, and prosecuted.
This revolution, the information revolution, is a revolution of free energy as well, but of another kind: free intellectual energy.
There are no free financial markets in America or, for that matter, anywhere in the Western word, and few, if any, free markets of any other kind.
I like Ronald Reagan, who didn't play crass politics, and he just articulated and delivered on broad themes that were needed. Free markets meant free markets. Deregulation. Lower tax rates. Strong national defense. And he was credible and believable.
We have become the new american slaves: but there is a revolution coming. It is a revolution of individual liberty. It will free us without violence. It will begin with the self. It will spread to the workplace. It will turn our corporate masters into our servants. It will free us of government's tyranny. The revolution will spread to all corners of the nation, and at last, we shall be free.
But what do we mean by the American Revolution? Do we mean the American war? The Revolution was effected before the war commenced. The Revolution was in the minds and hearts of the people; a change in their religious sentiments, of their duties and obligations ... This radical change in the principles, opinions, sentiments, and affections of the people was the real American Revolution.
The white man knows what a revolution is. He knows that the Black Revolution is worldwide in scope and in nature. The Black Revolution is sweeping Asia, is sweeping Africa, is rearing its head in Latin America. The Cuban Revolution - that's a revolution. They overturned the system. Revolution is in Asia, revolution is in Africa, and the white man is screaming because he sees revolution in Latin America. How do you think he'll react to you when you learn what a real revolution is?
What we can say with confidence is that the technological revolution is worsening inequality, due mostly to mechanisms that limit free markets. It is also bringing about disruptive change that is intensifying insecurity and may indeed lead to large-scale labor displacement.
In the States, I think, the syllogism goes like this: 'free markets solve all problems. Free markets aren't solving global warming, QED global warming is not a problem'. It's not a very good syllogism but it's emotionally comforting if you're in that world.
There are markets extending from Mali, Indonesia, way outside the purview of any one government which operated under civil laws, so contracts weren't, except on trust. So they have this free market ideology the moment they have markets operating outside the purview of the states, as prior to that markets had really mainly existed as a side effect of military operations.
I don't think it's possible for the Fed to end its easy-money policies in a trouble-free manner. Recent episodes in which Fed officials hinted at a shift toward higher interest rates have unleashed significant volatility in markets, so there is no reason to suspect that the actual process of boosting rates would be any different. I think that real pressure is going to occur not by the initiation by the Federal Reserve, but by the markets themselves.
This system, built on free markets, free trade and free peoples and American protection, that's what got us from the end of World War II to the extraordinary events of the end of the Cold War and a system that was one of prosperity and peace for a lot of people, including for the United States.
They're lots of good Americans here in New York who have common sense and who believe in free markets and free people and limited government under our Constitution. Those are the principles I've always stood for. I know they're right, and that's what I'm going to stand for.
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