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L. Neil Smith's
Number 756, February 2, 2014


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A Political Economics Essay in Sixteen Tweets
by Terence James Mason

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Special to L. Neil Smith's The Libertarian Enterprise

Sixteen tweets by @OneAmericanVoic, Thursday January 23, 2014, beginning 0830 ET (in chronological order):

When people sit idle, wealth cannot be generated, only consumed. This is the fallacy of socialism

In responsible capitalism, free men work at their own self-interest to generate wealth, and share it through trade and savings.

In irresponsible capitalism, cronies scheme with government to keep the wealth for themselves. This is not intrinsic to capitalism, but evil

Finance is not intrinsically irresponsible, but Midas Mulligan went to Galt's Gulch and we have to deal with the ones we have left.

Politicians of both parties who perpetuate the cycle by giving contracts to cronies who reward them with donations are the problem.

Politicians of both parties who perpetuate the cycle by rewarding interest groups with unearned income—"shared wealth"—are also problems

The United States has only survived-NOT won-the "war on poverty" because of the intrinsic strength of responsible capitalism

That cannot continue indefinitely due to the dramatic decrease in the labor force and parasitic increase of crony capitalism since 2006

Timing this to the Democrat control of Congress does not absolve the Republican party

Both Republican fecklessness particularly 2002-5 and continuation of Clinton policies began our slow degradation and contributed to 2008

The problem is rooted both in Congress and in the White House but has only accelerated since 2006 particularly 2008-10

The only solution to our problems is to get people back to work through curtailing both crony capitalism and welfare.

No Democrat and no "RINO" will embrace a solution that does both, & there are now enough people dependent on the system to control elections

This isn't the end but it will require diligent work by people committed to the American way to save the country in 2014 and 2016

(Tweets added at end)

For all their protestations of being "for the little people," Democrats are far worse and more damaging crony capitalists than the RINOs

This may be because of Democrat economic incompetence, worse corruption, or their selection of more damaging capitalists to crony with

Terence James Mason is author of No Loopholes

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