Many believe capitalism has failed and believe it must be replaced by statism.  Statism has failed miserably and must be replaced by capitalism.  What is referred to as capitalism is far from it.  We have policies of interventionism and inflationism, which are both characteristic of statism.  Even though it has been referred to as capitalism, it is not, not even close.  Statism is at fault for all economic crises, it always leads to catastrophe and will be the death of peoples.

The market structure will bring things into harmony.  That is: wages, prices, and interest rates.  Each branch of production will correspond to supply and demand.  Of course, temporary imbalances can occur: weather, locusts, etc., can cause temporary distortion.  They are not market failures, the market never fails.  Harmony is reestablished, not instantly, but quickly.  Harmony can only be disturbed by outside influence.

Policies have been nothing other than statist policies.  These policies can only impede the operation of the market.  There are all sorts of trade policies, taxes, inflation, and much more preventing market operation.  Prices don’t need to be higher for growth.  You don’t need part of your money to be stolen for growth.  Money doesn’t need to be counterfeited for growth.   None of this is good for you.  How are lower prices bad?  How is more access to goods bad?

Trade policies are beneficial for a few companies at the expense of the many.  Taxes are straight forward, part of your money is taken away.  Inflation is the danger of dangers.  It’s an easy source of revenue for the early receivers.  There may be some resistance to taxation.  However, there is little or no resistance to inflation because it is unobserved.  It is legalized counterfeiting, a banking cartel, and a fraud.  None of this resembles a free society.

Contrary to the dominant official opinion, capitalism did not fail.  Statism failed.  It has always failed and will always fail.  Under statist policies, which affects almost all thinking, is disastrous and will always be so.  Capitalism will accumulate capital, statism consumes capital.  None of this is unexpected, this is due to a naïve misunderstanding of what capitalism is.   That is intentional.  The preachers of death want to bamboozle you into supporting statism.

Reference

Ludwig von Mises; Selected Writings, Vol. 2