What He Said
Posted by Dan Draney on April 28, 2010
I just loved this letter to the editor today in the WSJ from Robert G. Anderson of Sheridan, Wyoming.
Gerald O’Driscoll’s excellent “An Economy of Liars” op-ed, April 20 ends too soon. Crony capitalism is merely the first phase of an imposed interventionist welfare state on a free-market economy. As our country continues its descent down Frederich von Hayek.s “road to serfdom,” our politicians and their apologists are being transformed from liars to demagogues.
The anti-capitalist mentality ingrained in egalitarianism and envy is taking our country closer to the path taken by Argentina as that country steadily declined from being one of the world’s richest countries to one of its poorest in the last century. Recovery still remains an illusion for Argentina, and possibly it will for us as well.
While the most immediate and visible consequences from this shifting change are the unfunded, contingent liabilities and growing deficits in both the public and private sectors, the far more dire result is the massive destruction of accumulated wealth and the disincentives for its replacement which this anticapitalist mentality of expanding wealth transfer by political edicts is generating.
As the indebtedness and regulatory grasp of the political process expand, it’s becoming obvious that the government parasite is killing its market host. The wealth destruction occurring today, coupled with the undermining of market incentives to replace it, inexorably assures a declining material standard of living ahead.
Unless a drastic change in our political climate comes soon, with a restoration of market wealth generating prospects for future entrepreneurs, Americans may find themselves doing the bidding of the Chinese rather than buying their goods.
This entry was posted on April 28, 2010 at 10:27 pm and is filed under government spending, socialism. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.