A Quote by Ludwig von Mises
The recurrence of periods of depression and mass unemployment has discredited capitalism in the opinion of injudicious people. Yet these events are not the outcome of the operation of the free market. They are on the contrary the result of well-intentioned but ill-advised government interference with the market.
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Depressions and mass unemployment are not caused by the free market but by government interference in the economy.
We do not have free market capitalism in America; we have crony capitalism. There is a huge difference between free market capitalism that democratizes a country and makes us more efficient and prosperous and corporate crony capitalism.
All those evils which the [liberals] interpret as evidence of the failure of capitalism, are the necessary outcome of interference with the market.
Ignorance, as well as disapproval for the natural restraints placed on market excesses that capitalism and sound markets impose, cause our present leaders to reject capitalism and blame it for all the problems we face. If this fallacy is not corrected and capitalism is even further undermined, the prosperity that the free market generates will be destroyed.
I have spent my entire career advocating for free-market economic policies, trying to convince the leaders of this country that unnecessary government interference in the market-place - and let's face it, most government is totally unnecessary - destroys liberty and inhibits prosperity.
There is simply no other choice than this: either to abstain from interference in the free play of the market, or to delegate the entire management of production and distribution to the government. Either capitalism or socialism: there exists no middle way.
The creation of today's market society was not the result of a sequence of spontaneous events but rather of state interference and violence.
It (the Chinese move to embrace capitalism in 1989) is a mirror of the corporatist state first pioneered in Chile under Pinochet: a revolving door between corporate and political elites who combine their power to eliminate workers as an organized political force. The creation of today's market society was not the result of a sequence of spontaneous events but rather of state interference and violence.
There's something about China and its rush to capitalism that I find confusing. At the same time, we live in an America where capitalists oppose any government interference with free markets, while in China you have a very controlled, state-planned market where economic growth is better than ours.
People think what's in the US today is capitalism. It's not even close to capitalism. Capitalism doesn't have a central bank, capitalism doesn't have taxes, it doesn't have regulations; capitalism is just voluntary transactions. What they have in the US today I call crapitalism. But it's sad that so many people are confused and they think, 'Oh that's free markets in the US', when it's one of the least free market countries on earth.
My father always said 'There's no free lunch.' My father was right. There's no free lunch and there's no free market. The market is rigged, the market is always rigged, and the rigging is in favour of the people who run the market. That's what the market is. It's a bent casino. The house always wins.
In the whole history of capitalism, no one has been able to establish a coercive monopoly by means of competition in a free market...Every single coercive monopoly that exists or ever has existed...was created and made possible only by an act of government...which granted special privileges (not obtainable in a free market) to a man or a group of men, and forbade all others to enter that particular field.
Study after study, not only here but in other countries, show that the most affordable housing is where there has been the least government interference with the market - contrary to rhetoric.
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.
Over the past three decades, markets and market thinking have been reaching into spheres of life traditionally governed by non-market norms. As a result, we've drifted from having a market economy to becoming a market society.
After the rise of Thatcherism, the smashing of the trade unions, and the post-cold war sense that any alternative to free-market capitalism was permanently discredited, you can see why the wealthy felt drunk on the sense of eternal victory.
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