My Answer is ‘Yes,’ But Keep Capitalism
I posted a question on LRC, Is it inherent in the nature of free market capitalism for the most wealthy individuals and/or corporations to capture government power? I received several interesting comments via email. The great Bionic Mosquito has answered the question in a 3-part post (part 2 part 3). L. On LRC L. Reichard White has posted in response a magisterial piece on the Sociobiology of Liberty. I am honored and informed by these responses, but to be honest I had my own sense of an answer somewhat making this a rhetorical question. I imagined the question in conversation with both progressives, conservatives and hard core libertarians as a means to formulate limited agreement in today’s divisive political environment. Anyway, My Answer is ‘Yes,’ But Keep Capitalism. I will explain.
In a recent podcast James Corbett and Keith Knight discussed “red pill moments” in their lives. Knight described reading an eye opening 1990 essay by Hans Hoppe titled Marxist and Austrian Class Analysis. In this essay Hoppe notes that Marxists can be correct on their historical observations but false in their reasoning. Now, virtually all people from all political factions can observe the evil intentions of some of the most wealthy individuals and/or corporations even if their reasoning about what to do about it differ and are faulty. I quote Hoppe at length for this directly pertinent passage on the subject at hand.
And finally, Marxists are also correct in noticing the close association between the state elite-even though their explanation for it is faulty. The reason is not that the bourgeois establishment sees and supports the state as the guarantor of private property rights and contractualism. On the contrary, the establishment correctly perceives the state as the very antithesis to private property that it is and takes a close interest in it for this reason. The more successful a business, the larger the potential danger of governmental exploitation, but the larger also the potential gains that can be achieved if it can come under government’s special protection and is exempt from the full weight of capitalist competition. This is why the business establish
Article from LewRockwell