Friday, April 14, 2017
My favorite optimist..................
................notes that failed populist revolts often bring the unexpected tyranny. History may not repeat itself, but its cycles sure seem similar (and not very pretty). Full post is here. Two wee excerpts here:
"There is a lesson here. Europe as a whole is heading down the same path: slow growth and far too many people living off redistribution rather than enterprise — in private, public and voluntary sectors. The goose that always lays the golden eggs of prosperity is the habit of exchange and specialisation: people doing what they are good at, and getting better at it with innovation, while swapping the results freely with others through commerce."
"Yet history shows that free exchange is constantly at risk of being infected and captured by parasites and predators who live off productive people through taxes, tithes, rents, slavery, subsidy, war and theft. This is what killed the goose in ancient Greece and Rome, in Renaissance Italy and Holland’s golden age. From time to time anti-oligarch insurgents are needed to purge the parasites, expel the predators and free the economy from their burden."