Free Markets under assault by Central Planning
The Return of the Old Left
By Robert Tracinski
"Industrial policy" was always just an evasive euphemism used to describe the latest variation on the old theory of central planning. But central planning and nationalization of industries was a dead end when the old Soviet Russians tried it--and it is still a dead end now that Russia is trying it again.
The 20th century experimented with every possible variant of socialism. We had democratic socialism in Western Europe, totalitarian socialism in Eastern Europe, and fascist socialism in South America. We had atheistic socialism and we had "liberation theology." We had the "scientific socialism" of the Soviet central planners and the chaotic jungle socialism of the Khmer Rouge, who executed anyone with an education. We had "socialism with Chinese characteristics" and socialism with African characteristics and socialism with Hindu characteristics.
We tried it all, and every time it led to poverty and oppression.
Those results have been proven with scientific thoroughness. There is no excuse for trying it all again"
This guy is right on the money, we've seen the inevitable end of centralized planning in multiple variations for the last century and then some... it always fails the people it purports to help. It is precisely our move away from such misguided and shortsighted tactics that has made our economy resilient - even in the face of the current contraction.
If we can muddle through these difficult times without selling out our free market system to the far left, the business cycle will turn around, and we will be better off for it. This is why Detroit needs to bail themselves out through Chapt 11 restructuring, rather than be bailed out by big government interference.
By Robert Tracinski
"Industrial policy" was always just an evasive euphemism used to describe the latest variation on the old theory of central planning. But central planning and nationalization of industries was a dead end when the old Soviet Russians tried it--and it is still a dead end now that Russia is trying it again.
The 20th century experimented with every possible variant of socialism. We had democratic socialism in Western Europe, totalitarian socialism in Eastern Europe, and fascist socialism in South America. We had atheistic socialism and we had "liberation theology." We had the "scientific socialism" of the Soviet central planners and the chaotic jungle socialism of the Khmer Rouge, who executed anyone with an education. We had "socialism with Chinese characteristics" and socialism with African characteristics and socialism with Hindu characteristics.
We tried it all, and every time it led to poverty and oppression.
Those results have been proven with scientific thoroughness. There is no excuse for trying it all again"
This guy is right on the money, we've seen the inevitable end of centralized planning in multiple variations for the last century and then some... it always fails the people it purports to help. It is precisely our move away from such misguided and shortsighted tactics that has made our economy resilient - even in the face of the current contraction.
If we can muddle through these difficult times without selling out our free market system to the far left, the business cycle will turn around, and we will be better off for it. This is why Detroit needs to bail themselves out through Chapt 11 restructuring, rather than be bailed out by big government interference.
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