How Capitalism Saved America and How Government is Destroying It | Thomas J. DiLorenzo

Presented by Tom DiLorenzo at the Mises Circle in Naples, Florida: "Freedom versus Big Government," on 26 February 2011.

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[PanzerDivisionBOM]

@AmadCatal1

When a politico is caught in bed with a big business, you should place the lion's share of the blame with the politico.

Without the politico to confer cartel privileges, the big business would either be serving consumer preference, or not be a business at all.

Without the big business to help him get reelected, the politico would still have to steal and bribe to win elections, or not be a politico at all.

Business qua business is productive. Politico qua politico is destructive.

[furyofbongos]

Tom DiLorenzo strikes again!

[jeanniemason822]

@knoxvillehill Neocon? knoxvillehill, you need to learn your definitions. People like Bush are neocons, as they've distorted traditional conservatism, ideals such as fiscal responsibility and non-interventionism

In fact, Neoconservatism is rooted from a branch of liberals who had some communistic (or fascist) ideals but also were disillusioned with Soviet Russia's ideology. Here... have a link to a neocon timeline.

w w w .historycommons . org/context . jsp?item=a30s50sneoconideology

[knoxvillehill]

typical neocon tripe.

bloated, glutenous putrid revisionist liar.

always deflect, always distort, never take responsibility....

[TehOrtiz]

All I am saying is that the lack of proper governmental regulation is the majority of the reason. People need to stop thinking of government as a separate entity. People live their daily lives in this capitalist (free market) society and forget about the consequences. Government reflects OUR neglection, and it knocks on our door saying "hey man, you forgot to pay your bills."

[shamgar001]

@TehOrtiz Would you please expound upon that?

[TehOrtiz]

@shamgar001 my point being the financial crisis is not ONLY from the housing bubble and banks. It was a build up from the past.

[shamgar001]

@TehOrtiz So the consumers have decided they'd rather have lower costs than higher quality. That's their choice, not yours.

I don't listen to Alex Jones. The War on Drugs is bad and wastes a lot of money, but it can't cause a financial crash; same with the wars. The housing bubble burst because it shouldn't have inflated in the first place. Cheap credit from the Fed creates bubbles. Regulations have only increased over the past few decades, so deregulation has nothing to do with it.

[TehOrtiz]

@shamgar001 To your second point, the financial crisis is do to MUCH more than your Alex Jones conspiracy theories. There is the War on Drugs, Reagans environmental policies (deregulations for businesses), War in the Middle East, loss of jobs to over seas markets (cheaper labor overseas), heads of companies paying themselves big bonuses, and a HUUUUUUUUUUUGE fault with not enough regulation on corporations. The large majority of Federal Reserve money is not even American, it is FOREIGN INVESTORS

[TehOrtiz]

@shamgar001 They use their resources most efficiently? They provide FASTER production with CHEAPER prices, at the cost of QUALITY. That's a universal understanding. We prevent this when these companies (in the search for cheaper production) take LOWER LEVEL jobs OVERSEAS. Think of car companies. When they were HAND produced, the products were of high quality. However, competition and search for larger profits have drastically changed this.

[shamgar001]

@TehOrtiz First off, companies like McDonalds become big because they use their resources most efficiently. When you try to prevent them from doing that, we become poorer as a society.

Second, the financial crisis is because of the Federal Reserve and government whoring itself out to banks, not large corporations.

[TehOrtiz]

@TehOrtiz I know that was off topic, but he is making government seem way too devil. I agree its destructive, but is needed. Doesn't he mention how lucky capitalism was to have a brand new "world" to take off on? Think of all the new and unused resources that there were. And yes monopolies CAN EXIST without a government. It ultimately comes to how cheap production is and how much profit... which has lead to US jobs going over seas.