Having just seen last year all of the occupy demonstrations, my wish for the new year is that more people worldwide, and especially in the USA, will realize that the economic problems we are seeing in the world stem not from Capitalism but from Government and government intervention in what should be free markets.
While I get the beef the occupiers have, I have it too (anger at crony business for example), but so many people have their anger focused on the wrong place. It is ignorance in the most caring sense of the word.
The occupy crowd (and the population in general) should not be upset at Capitalism or at the too easily contrived “fat cats”, they should go to the source of the problem which is Government.
Markets naturally self-regulate. Why? Because Buyers and Suppliers of anything have to both agree before any product or service can be bought or sold. If one or the other cheats, lies, or otherwise doesn’t offer value they will naturally be eliminated or otherwise ignored. The good and the bad word gets out.
The minute an outside party to the transaction gets involved and alters the relationship (screws with the free market) it is no longer a free market but a manipulated market. Look around – do you not see Government intervention and manipulation in markets almost everywhere? Housing, Health Care, Food, Labor, Stocks, Banking and on and on.
Look at the United States – we have a Constitution, a founding document of the nation that sets forth not what the Federal Government can do but rather what it cannot do. This is somewhat unique to the USA and what has up until now set the USA apart from the rest of the world by levels of degrees when it comes to economic productivity. The first job of the government is to protect your liberty, life, and property rights, and the first job of the President is to defend the Constitution. We have a Congress that passes laws that regularly interfere with your liberty and property rights and a current President that routinely tramples on the Constitution.
The problems we’re seeing in the USA and in many parts of the world are not stemming from Capitalism – on the contrary – its the lack of Capitalism that is pushing everything down. When Capitalism flows freely the markets would take care of themselves. If Government would get out of the way of interfering in markets so many of the nations economic issues would naturally resolve themselves. Resolving economic issues leads to resolving many social issues.
Do you really need a far-away Federal bureaucrat deciding for you what you should buy, when, and for how much? If you support this sort of a world, maybe there are a few countries for you where you could relocate, but the Constitution in the United States lays out the terms and conditions of the country. It is clear that many people also confuse the role of the Federal government with the role of the States (ex. Dept of Education). So many people lose their minds when you say we should get rid of the Federal Dept of Education – but think about it, what business does the government have being in the business of educating children? That is not a role of the Federal government. (As a side note, if you think about it again, you’ll realize why the Federal government like to have a hand in education.)
So while nobody like crony capitalism (hardly a free marketplace either), the occupy Wall Street Crowd and most Liberal Democrat voters have their arrows and frustrations pointed in the wrong place. They should really take a clearer look at from where these problems stem and if they want to occupy something they ought to direct their energy at voting out people in the Federal government that are creating the policies. The Federal government is the entity creating the problems then coming forth with “solutions” for the problems they create. Enough – just vote out the wrong people and do your best to vote in the right people. When you elect people like Barney Frank, Chris Dodd, Chuck Schumer, Harry Reid, Dick Durbin, Barack Obama, and the like, you get what we have now. I’ll even throw in George W. Bush because he too abandoned free market principle as she said “to save the free market“.
So in this theme, spend 15 minutes checking out the above insightful video from Peter Schiff who went down to one of the occupy protests to see if he could have a dialogue with the people there. You can see in the video that the crowd wants to just spout out quick slogans or blame zillionaires for making too much money, but Schiff sympathizes with them, calmly shoots straight with them, and shows them that their anger really needs to be put squarely on Washington DC and the politicians who create policies that do not let markets self regulate. He is fair in his analysis and I hope here in 2012, in what is easily the most critical election year of your lifetime, more people everywhere understand that free Capitalism is the solution, not more Government.
Remember that at least in the USA the government governs at the consent of the governed. How many Americans no longer consent to the current state of the Federal government and will vote out the wrong people this year?
Video from Reason.tv