Sunday, March 21, 2010

Is Congress and the Fed Merely Bad, or Actually Evil?

A few things occur to me in regards to the upcoming health insurance bill vote and, in fact, any legislation involving economic matters.

We know central planning does not work. That was proven theoretically by Mises and Hayek, and proven historically in the collapse of communism. So why do we have central banks invoved in the central planning of money and interest rates?

We know interventionism does not work. Mises in particular proved it does not have the desired effects, and Hayek proved that we cannot have the knowledge necessary to know how to regulate anything to get the desired outcomes. Mises' praxeology in fact shows that if we understand human action, we can prove that most things our governments will do in regulating the economy will have negative repurcusions.

We know Keyneseanism doesn't work. Wasn't the 1970's stagflation enough? Especially the collapse of African and Central and South American economies?

Both history and a proper understanding of our evolved human nature, including human action properly understood, prove the supriority of the free market as an economic system when it comes to wealth creation for all people, providing maximum liberty for everyone, and protection of people's lives and property over every other system.

The above being demonstrated and demonstrable facts, why do we have a Congress doing what it is doing in the economy, and in health insurance in particular? And why do we have a Fed? And, having a Fed, why does it continue to do the very things that caused the economic collapse in the first place?

A good person is someone who knows what the good is and does it.
A bad person is someone who does not know what the good is and therefore does not do what is good out of ignorance.
An evil person knows what the good is and chooses to do what is bad anyway.

If our members of Congress who support this health care bill, bailouts, various economic interventions, etc. do so out of ignorance, they are unqualified to hold office and should resign immediately. The same is true of thoese in the Federal Reserve in regards to their actions.

If our members of Congress who support this health care bill, bailouts, various economic interventions, etc. do so knowing what the good is and choose to do these things anyway, they prove themselves to be evil. The same is true of those in the Federal Reserve in regards to their actions. It is doubtful that evil people will resign. What, then, is the proper way to deal with evil?
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