Let’s Wage War Against Government Favors & Crony Capitalism

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Let's Wage War Against Government Favors & Crony Capitalism

USA – -(Ammoland.com)- Dr. Richard Ebeling, professor of economics at The Citadel, The Military College of South Carolina, and my longtime friend and colleague, has written an important article, “Business Ethics and Morality of the Marketplace,” appearing in the American Institute for Economic Research.

It's importance and timeliness is enhanced by so many of America's youth, led by academic hacks, having fallen prey to the siren song of socialism.

In a key section of his article, Ebeling lays out what he calls the ethical principles of free markets. He says: “The hallmark of a truly free market is that all associations and relationships are based on voluntary agreement and mutual consent. Another way of saying this is that in the free market society, people are morally and legally viewed as sovereign individuals possessing rights to their life, liberty, and honestly acquired property, who may not be coerced into any transaction that they do not consider being to their personal betterment and advantage.”

Ebeling says that the rules of a free market are simple and easy to understand: “You don't kill, you don't steal, and you don't cheat through fraud or misrepresentation. You can only improve your own position by improving the circumstances of others. Your talents, abilities, and efforts must all be focused on one thing: what will others take in trade from you for the revenues you want to earn as the source of your own income and profits?”

For many people, profit has become a dirty word and as such has generated slogans such as “people before profits.” Many believe the pursuit of profits is the source of mankind's troubles. However, it's often the absence of profit motivation that's the true villain. For example, contrast the number of complaints heard about profit-oriented establishments such as computer stores, supermarkets and clothing stores to the complaints that one hears about nonprofit establishments such as the U.S. Post Office, the public education system and departments of motor vehicles. Computer stores, supermarkets, and clothing stores face competition and must satisfy customers to earn profits and stay in business. Postal workers, public teachers and department of motor vehicle employees depend on politicians and coercion to get their pay. They stay in business whether customers are satisfied with their services or not.

In a free-market society, income is neither taken nor distributed. Income is earned by serving one's fellow man.

Say I mow your lawn. When I'm finished, you pay me $50. Then, I go to my grocer and demand, “Give me two pounds of sirloin and a six-pack of beer that my fellow man produced.” In effect, the grocer asks: “Williams, what did you do to deserve a claim on what your fellow man produced?” I say, “I served him.” The grocer says, “Prove it.” That's when I pull out the $50. We might think of dollars as “certificates of performance,” proof of serving our fellow man.

Free markets are morally superior to other economic systems. To have a claim on what my fellow man produces, I'm forced to serve him. Contrast that requirement to government handouts, where a politician says to me:

“You don't have to get out in that hot sun to mow your fellow man's lawn. Vote for me and I'll take what your fellow man produces and give it to you.”

Ebeling says that those deserving condemnation are those who use government coercion to gain at the expense of others. There are thousands of such examples: government subsidies at taxpayers' expense, paying farmers not to grow crops or guaranteeing them a minimum price paid for through tax dollars and higher prices for consumers, regulations that limit entry into various professions and occupations, regulations that limit consumer choice, and corporate handouts and bailouts.

In a word or so, our protest should not be against capitalism. People should protest crony capitalism, where people use the political arena to buy government favors. If millennials and others want to wage war against government favors and crony capitalism, I'm with them 100%. But I'm all too afraid that anti-capitalists just want their share of the government loot.


Walter E.Williams
Walter E. Williams

About Walter E.Williams

Walter E. Williams is a professor of economics at George Mason University. Williams is also the author of several books. Among these are The State Against Blacks, later made into a television documentary, America: A Minority Viewpoint, All It Takes Is Guts, South Africa's War Against Capitalism, More Liberty Means Less Government, Liberty Versus The Tyranny of Socialism, and recently his autobiography, Up From The Projects.

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Dragonfly
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Dragonfly

I think the last 3 generations of students have been totally brainwashed by our educational system
for the last 40 years at least. The American history and our form of government is not taught in elementary, high school, or college anymore. The faculty at all levels are 70% socialist. Need I go further?
DF

Wild Bill
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Wild Bill

@D, I agree. That is why recapturing the local school boards is so important.

JPM
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JPM

Excellent article. What we have devolved into across this nation in big business and Wall Street, and other venues, is something I call, “American Capitalism”, which isn’t based upon a free market, as it once was, but is based solely upon profit driven by greed. Professor Williams article better explains what I have been saying for years and I agree with him 100%. Big business and government and too many small business have lost any compassion they once had for their employees and the public and no longer can even conceptualize the idea of “serving” their fellow man, but now… Read more »

Arny
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Arny

I guess we could call it the new MEMEMEME TOO movement.

LiftNw8
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LiftNw8

Spot on for sure! We need to end the era of government subsidies that are paid for by we the taxpayer as we are tired of the theft of our hard earned money so that it can be redistributed to others for doing nothing! Start with taking away the pay for all congressman and senators, they get paid when they prove they have actually served the people and done something worthwhile that will benefit there constituents and if they can’t do that they don’t get paid they will have to get a real job and actually work as we really… Read more »

gregs
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gregs

Dr Williams is one of the most intelligent academics in America. there should be no subsidies provided by taxpayers/government for anything. I agree that our representatives should be paid less and should have term limits. the “work” they do does not deserve 172k/yr. living off the taxpayers was not meant to be a career, although it has become one. America’s free market economy has elevated more people out of poverty than any other. the poorest person in America is richer that 90% of the rest of the world. most have a/c, cell phone, tv, food and shelter. if these socialist… Read more »

joefoam
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joefoam

Those that propose a socialistic society are either lazy, jealous or greedy. The new generations don’t want to work and have everything given to them as their helicopter parents have.

Ansel Hazen
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Ansel Hazen

Walter is spot on. What we need to do now is encumber the pay for our congress critters until they can prove they have served us.