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This is a crisis of state intervention


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In the past few posts, I reproduced the economist Ludwig von Mises’ 1949 explanation of “the crisis of interventionism”, which insisted that the “third way” is a system of economic organisation which cannot last. We must choose between either state socialism or a free society. State socialism would be chaos but “Nothing suggests the belief that progress toward more satisfactory conditions is inevitable or a relapse into very unsatisfactory conditions impossible.” Many seem to believe we are in a crisis of […]

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The Crisis of Interventionism, part 3: The End of Interventionism


Blogging will be light for a few days for reasons which will become apparent when I return to it. In the meantime, I wanted to offer some prescient writing from Mises’ 1949 masterpiece, Human Action on the crisis of well-intentioned economic intervention. Via Human Action chapter XXXVI: The End of Interventionism, including the “third way”: The interventionist interlude must come to an end because interventionism cannot lead to a permanent system of social organization. The reasons are threefold. First: Restrictive measures […]

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The Crisis of Interventionism, part 2: The Exhaustion of the Reserve Fund


Blogging will be light for a few days for reasons which will become apparent when I return to it. In the meantime, I wanted to offer some prescient writing from Mises’ 1949 masterpiece, Human Action on the crisis of well-intentioned economic intervention. Via Human Action chapter XXXVI: The Exhaustion of the Reserve Fund: The idea underlying all interventionist policies is that the higher income and wealth of the more affluent part of the population is a fund which can be freely […]

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The Crisis of Interventionism, part 1: The Harvest of Interventionism


Blogging will be light for a few days for reasons which will become apparent when I return to it. In the meantime, I wanted to offer some prescient writing from Mises’ 1949 masterpiece, Human Action on the crisis of well-intentioned economic intervention. Via Human Action chapter XXXVI: The Harvest of Interventionism: The interventionist policies as practiced for many decades by all governments of the capitalistic West have brought about all those effects which the economists predicted. There are wars and […]

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Detlev Schlichter argues we’ll be rethinking the role of the state as the crisis deepens


In this video, Detlev Schlichter talks to Jan Skoyles of the Real Asset Company about the crisis, the benefits of cooperation and money as a key causal factor. He argues we will need to fundamentally reconsider the role of the state, as the crisis continues to develop.

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