Why Things Will Get Worse — Much Worse

Monty Pelerin / EconomicNoise.com

It is easy to be upset about what is happening all around. The economy is being destroyed, deliberately, by insane economic policies. Incentives to work are being eliminated by punishing work. At the same time rewards are increasing for not working. Not surprisingly we get less of what we penalize (work) and more of what we subsidize (non-work).

As an economist I get sick over what I see happening to what was once a great engine of productivity, capital creation and improvements in standards of living.

After two centuries of progress that amazed the world, the conditions necessary for growth and productivity are steadily being removed. Their presence allowed the miracle of America. Their absence guarantees the decline. Carried to extreme, the US could become a second or third-world nation within a few decades. Virtually all changes in the last five to ten years point in this direction and these changes are accelerating.

As pained as the economic retrogression is, the loss of freedom is even more disturbing. It was free markets and free men that made America the dominant economic power and the beacon of freedom. Without freedom, no economic policy can succeed. Yet, just as economic policies seem designed to destroy rather than create, so too does the role of government as steadily destroys freedom with its expanded oppression and power. The absence of freedom is tyranny. The absence of freedom is also poverty.

Economic decline is difficult to convey, although data are useful. The decline of liberty, however, is not easily quantifiable and even more difficult to communicate. An email from Simon Black (I have no link to the text, the link included is to his website), expresses his concern regarding Leviathan government and its increasing oppression. It provides as good a qualitative measure of what is occurring to freedom in this country:

By now it should be clear to anyone paying attention that most of Western civilization is on a dangerous slide into tyranny. 

 

They’re confiscating funds directly from people’s bank accounts. They’re seizing reporters’ personal records and phone logs. They’re digitally spying on everyone’s emails.

 

They’ve authorized military detention and drone assassination of their own citizens. They’re using tax offices to harass political opposition groups.

 

They tell us what we are allowed to eat and drink, what foods we are allowed to put in our own body.

 

continue article at EconomicNoise.com:

 

http://www.economicnoise.com/2013/06/12/why-things-will-get-worse-much-worse/