The war on capitalism won’t stop.  There is a vicious circle of interventionism.  Those who attack capitalism are misdirecting their anger.  This could very well be intentional or just massive amounts of propaganda.  They’re actually angry with the results of statism.  Interventionism creates a permanent lag on capitalism.  We would all be better off and have a higher standard of living were capitalism actually adhered to.

The system of intervention is sold to the public as being beneficial.  However, the reverse is true.  A new intervention might create one seen beneficial aspect.  Meanwhile, it creates ten unseen bads.  The light will be shined on the one seen aspect.  The ten unseen bads will require more interventions.  Each will have similar results.  Each will require far more interventions to solve the problems that the interventions created. 

The state has figured out how to take money from the public without taxing or counterfeiting.  This is called extortion in the public sphere.  Companies are worried about their industry being regulated, and bribes are extracted to prevent this.  A business is much less concerned with growth, and they switch their attention to political matters.  We are all worse off.  Rather than calling it what it is, it’s referred to as “milking” or “juicing.”

Many of us have heard the period of the “robber barons.”  This is a horrible characterization of the period.  It’s important to distinguish between market entrepreneurs and political ones.  Confusing the two will cause you to misunderstand capitalism.  The market entrepreneur will succeed by providing excellent goods cheaply.  In other words, those who satisfy the demands of the public.  A political one relies on various favors from the state.

The main lesson to draw from history is clear.  Politicians might speak highly about growth and successful businesses.  They’re actually capitalism’s worst enemies.  Any intervention in the economy creates more problems than they solve.  Each new problem requires a new intervention.  Thus, creating more problems.  Businesses today must devote an inordinate amount of time being corporate bureaucrats rather than creating growth.

Reference

Thomas DiLorenzo; How Capitalism Saved America