So yeah, I think communism is just pie-in-the-sky, like Shangri-La or the Big Rock Candy Mountain. It is impossible in a world of scarcity and subjective value.
Which made me think how ironic communism is.
Without scarcity, there would be no purpose for communism, and due to scarcity, it is impossible.
The first Chinese participant does a fantastic job of challenging George Soros, with what sounds to me, like an argument directly out of Tom Woods NYT bestseller, Meltdown. Now I haven’t read Meltdown, but I have caught all of Woods’ articles and speeches available online, and feel I can confidently make that assessment.
At 2:30, the Chinese participant mentions that markets can correct themselves, and Soros argues they cannot.
Notice how Soros stumbles when he talks about how markets are smarter than regulators, then claims that only regulators can stop perpetual market failure. And the questioner does a wonderful job of pointing out, that only expansion of the monetary base can provide the necessary environment for these large booms, and Soros starts blinking, which sometimes is a sign of discomfort (approx. 4:30)
Continue reading George Soros withers in the face of an Austrian critique
I have been wanting to catch up on so many things I intended to blog, and only now find myself with the time to do so.
One such item is the excommunication from the anarchist blogosphere (yeah, think about that) of a fella named Keith Preston. Seems Keith wrote some things that upset some people, namely Charles Johnson, Brad Spangler and Kevin Carson, amongst others.
I had never heard of Keith Preston until I saw this post on No State, and it intrigued me, because I have recently been cutting ties with paleos who are more conservative than libertarian.
So yesterday, I finally got around to giving the offending post by Preston a rigorous examination with a clear mind and a critical eye.
On the Mises.org Blog, Mark Thornton has some damning past quotations from Paul Krugman which undermine his current statement that (emphasis mine),
One of the funny aspects of being a somewhat, um, forceful writer is that I’m regularly accused of all sorts of villainy. I was personally responsible for the demise of Enron; my nonexistent son worked for Hillary; etc.. The latest seems to be that I called for the creation of a housing bubble.
. Now I haven’t read 