The Government is Criminal
Anarcho-Capitalism with Walter E. Block
In a thought-provoking and unusual conversation with Walter Block, a prominent and controversial professor of economics, we dive into the core principles of anarcho-capitalism and Austrian Economics.
One of the central questions we grapple with is whether taxation constitutes theft. Block argues that, from a libertarian perspective, any form of coercive extraction of wealth without consent can be classified as theft, challenging conventional views on government revenue.
We then examine privatization. Block posits that everything should ideally be privatized, as private ownership fosters competition and efficiency. This leads us to question the role of monopolies in society. While monopolies are often criticized for stifling competition, Block suggests that they occasionally provide stability and efficiency in specific contexts. However, he ultimately advocates for competition as a healthier model for economic growth.
The discussion also touches on the gold standard. Block argues for its reinstatement as a means of promoting sound money and reducing inflationary practices common in fiat currency systems. This raises another crucial issue: the transition from a government-run monopoly to a libertarian society. Block outlines potential pathways for this shift, emphasizing the importance of voluntary exchanges and the establishment of private arbitration systems to resolve disputes.
Finally, we consider the effectiveness of private versus public law enforcement. Block argues that private police could potentially be more responsive and accountable than their public counterparts, as competition among private agencies might lead to better service and innovation in policing.
I found Block to be thoughtful, knowledgable, and likable, though as you can see from the interview I had difficulty wrapping my mind around his worldview. My primary goal increasingly became to understand conclusions he devoted a lifetime to discovering—conclusions which I find bizarre.
Gone are the days when bankers and industrial magnates could meet in Paris to plot the course of the global economy.
The First World War changed all that.
Every single nation state on the planet today is "State Capitalist". The only difference between them all , being the degree of economic centralization and control.
No nation state will forfeit its ability to mobilize for, and conduct the next Great War. It is ludicrous to even imagine that any state would relinquish its control over the national economy or its currency. (For that reason, Bitcoin is the biggest pyramid scheme in history).
As the global rate of profit races to zero, corporations have cut back in long term investments in plants and equipment, R&D, training, quality, etc ... investing only in fictitious capital and buying back their own stocks.
As in the past, the only hope for capitalism today is the destruction of capital itself. And nation states internationally are flexing their muscle and positioning themselves to both secure and extend their regional and global dominance.
Client states - the smaller state capitalist nations - have become the proving ground for the weaponry of the next state capitalist world war as regional battlefields arise around the globe.
The disparity of wealth in the world today is greater than that of pre WWI. They had their Robber Barons so dearly loved by Libertarians ... while we have our Philanthropists.
As far as personal wealth is concerned, the US should be every Austrian Economist's wet dream. So much wealth is concentrated into so few hands that they all have their very own personal rocket-ship companies. I'm not one to complain. I only wish that they would all just fly away.
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The Federal Reserve is as "federal" as Federal Express. Not a even a year after it's 'creation' we had the first 'World' war, a "war to end all wars".