If neither dominant party represents you, consider the Libertarian Party.

The Economy

The Free Market Easy Money Price! Austrians

The Free Market works. It self–regulates. Conversely, gov't intervention causes unintended consequences.  Every.  Single.  Time.

I subscribe to the Austrian school. I am NOT a monetarist and certainly NOT a Keynesian. In general, gov't should NOT intervene in the economy.
The Free Market self–corrects by moving resources (people and captial) to efficient/profitable producers.

The housing bubble of the 2000s was Fed–induced following a Monetary Policy "correction". Both Lehman Brothers and AIG should have failed and NOT been bailed out by (uniformed) taxpayers. Their reckless executives should have been chastised by the financial industry and the general economy. And their employees freed to find work for a more viable/efficient business.

Likewise, General Motors should have been allowed to restructure or fail instead of receiving a bailout at taxpayer expense. With poor management decisions over decades GM became the high–cost producer of automobiles. Other auto producuers, domestic and foreign, were more efficient and more profitable. If a financially hobbled GM would fail GM workers would find personal financial stability with a more efficient producer or within another industry.  I applaud Ford Motors, a more efficient producer, for NOT taking a bailout payment.

The 2024 Economy

In 2024 we are in another another time of easy money, a.k.a. Inflation. The Fed has kept (unnatural,) near–zero interest rates since 2009. What struggling businesses or industries are being propped up?  We need just to follow the money. Federal spending will lead us to the cause of the next depression.

Following current political advocacy:

Progressive gov't STOP your constant Legal Plunder!  We The People, via The Free Market, will make our own choices.

Gov't Over–Spending

Easy money has preceded ALL recent economic downturns, including the (NOT so) Great Depression of 1929. Prior to a depression there is a perceived time of properity – a bubble caused by inflation and debt.

The Fed is the cause of depressions. They want to "stimulate" consumption. In many cases businesses that should fail are propped up. In time ALL bubbles will burst. Inefficient businesses will fail … unless bailed out. We taxpayers are on the hook for bad policy – most certainly a moral hazard.

The Fed, cease and desist creating these destructive cycles of boom and bust. We The People already vote with our economic wallets.

The Free Market Works

The price of goods and services self–correct based on

Scarcity (and Abundance)

When goods are scarce prices will rise; people competing for these goods that are NOT generally available. Elevated prices will endcourage new businesses to enter the market to provide that product. With a larger supply prices will decrease; people NO longer competing for an abundant supply. Prices will continue down until businesses close because they are now comparbly inefficent (and losing money). Then, with a reduced supply prices will rise again …

In this cycle goods and services will zero in on a sustainable price.

Dangerous Fallacies

Keynesian "Economics"

To Kennesians more consumption is always the desired outcome. They (falsely) believe gov't can "stimulate" consumption. Their solution for too little (however this is determined) consuption is gov't spending to stimulate consumption.

However, inflation results … more money added into the system.

Monetary "Corrections"

Monetarists believe that lowering the interest rate will, similar to Keynesians, stimulate consumption. However, the resulting cheap money is available to inefficient businesses. Banks have aleady denied loans to these risky businesses. Many of these high risk businesses will in time fail; they are already less viable/profitable. Again, taxpayers (without our consent) will bail out these ineffient business.

The Austrian Business Cycle

The only ecomonic theory that works is the Austrian/Chicago school of economics. It calls for gov't (actually the Fed) to stay out of the way and let The Free Market set prices for all goods and services. Each consumer to set their maximum price for each available good and service.

There may be a day in the future where green vehicles are affordable. That day is NOT today.
There may be a day when green energy is affordable. That day is NOT today.

We need intrepid entrepreneurs to take calculated risks. Gov't since 2021 has picked the wrong time for a commitment to green. The Free Market will embrace green technologies when they are produced efficiently and are proven profitable – NOT one day earlier.

Life, Liberty!, Property

This page is inspired by The Politically Incorrect Guide to the Great Depression and the New Deal by Robert P Murphy, PhD
Added June '24
Web Author - Mike Kolls