Tag Archives: Free market

THE WORD “AUSTERITY” IS PROPAGANDIC

Many words are chosen and brought into common use to further an agenda.  Our favorite example is “Capitalism”, a term that implies a system based on money, a system based on wealth.  Thus a system which is based on the freedom of everyman to exchange goods and services with his neighbor has become known by a name that implies something quite different.  The word “Capitalism” comes with an agenda.  Words that come with an agenda are propagandic.  Most people would look unfavorably on a system built around wealth but who could be against a system built on ‘pleasant companionship with friends or associates’?  There was a reason Karl Marx chose to identify the two systems as Capitalism and Socialism rather than as Free Markets and Government Controlled.

Now we look at “austerity.”  Say what you will about European Socialism, it does provide a comfortable life style.  Savor six week vacations, short working hours, retirement at age 55 on a government guaranteed income sufficient to live in modest comfort.  Some would argue that you give up many individual freedoms in exchange for that.  However, I ask how can you give up something you never had?

Merriam-Webster defines austerity as “stern and cold in appearance or manner, giving little or no scope for pleasure.”  That is not at all what advocates of “austerity” in Europe are calling for.  What they want is a responsible government that does not spend what it doesn’t have.  Yet they allow themselves to be known by a word that would identify them as seeking an uncaring government that leaves little or no scope for pleasure.  Thus applied, the word austerity is propagandic.

The irony of propagandic is the acceptance and use of words by the targets against whom the term was coined.  Even Milton Friedman called the Free Market system Capitalism.

 

CAPITALISM HAS DESTROYED EUROPE – GERMANY IS RESPOSNSIBLE FOR THE CRISIS IN GREECE

The magazines and newspapers in Europe are filled with stories pronouncing the end of capitalism.  They hold globalization and the free market system responsible for the financial crisis that has beset them.  It is greed in the private sector that threatens the continuation of the welfare state, they say.  There is no thought that it may be greed that drives the protesters who want to be carried by someone else’s life savings rather than work a little bit longer and create a little bit of wealth of their own.

To those who say capitalism is the cause, I have a few questions to ask.  When you retired from your government job at age 55 with a pension large enough to live on, where did the money to pay you come from?  With the free medical care you have enjoyed for most of your life, where did that money come from?  With free public education for your children and heavily subsidized university tuitions, where did that money come from?  Do you know?  Do you care?

Your government didn’t create it.  It was generated by the capitalist system you seek to end.  If you are successful what is your plan for a better system that will generate greater wealth, enough to continue and sustain and the benefits you have been enjoying and refuse to sacrifice?

The most absurd claims are the claims you read in the Greek papers, claims that Germany is to blame for the bankruptcy of Greece.  By that reasoning, I could buy a yacht for myself and blame you, dear reader, if the yacht is taken away from me because you wouldn’t pay for it.  Now that’s greed.