"The issue is always the same: the government or the market. There is no third solution." - Ludwig von Mises

Tim adds:

There is no "theory" of capitalism. It is a matter of Natural Law. It is what people will do if left to their own devices. All other theories of economics stem from some sort of control of the economy, even if a corporate control. Capitalism is the basis of all economic activity, even in Communist countries; the black market is purely capitalistic and is what keeps most Communist nations afloat. As the People of Cuba are wont to say "if you pretend to pay us we'll pretend to work". That is true of a statist economic system. They make their living off of work done outside the system. That is always the way of things where free markets are abrogated.

Posted by: Timothy Birdnow at 11:59 AM | Comments (8) | Add Comment
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