United Liberty

So contends Lev Nazrozov. He writes:

Out-of-control predatory capitalists have perpetrated a worldwide economic depression. Capitalism’s degenerate character is now extraordinarily visible during this time of multiple crises.

On each side of the page there is a picture of a miserable emaciated proletarian who carries on his back a huge pack of money, with a bourgeois seated atop of the pack and smoking a cigar.

By simply allowing the government to dominate every sector of the polity, by embracing totalitarianism, we might be able to avoid the woes of economic recession? Historical study makes such a conclusion seem ridiculous. While totalitarian economies did not suffer from “depressions”, per se, one could argue that consumers and citizens lived under a system which continuously mimicked the effects of depression.

Milton Friedman answers tough questions with well-reasoned answers, pointing out that many of the arguments against the free-enterprise system are based on questionable assumptions.

A few months ago, I was temporarily immersed in the recent history of Eastern Europe. I was devouring Ayn Rand’s We the Living, Michael G. Roskin’s The Rebirth of East Europe and Joe Sacco’s Safe Area Gorazde.

From an email by Professor Mark Thornton:

Some might find this useful. Misesian economics goes a long ways! -