Friday, July 07, 2017

Once More Into the Breach - Libertarianism

Freedom’s just another word for nothin’ left to lose - Janis Joplin, h/t David Kurtz.

Libertarians, so far as I can tell, believe that the greatest threats to individual freedom are government regulation and labor unions. At least that's what they have worked so hard and successfully at destroying the past 50 years. That belief is probably correct if you happen to be a great baron (in the days of the Magna Carta) or big capitalist rentier today. I doubt that that's true for many others.

For average workers, the greatest threat to freedom and well-being comes from the concentrated power of big capital. An interesting example is the way independent and other truckers have been driven into poverty by the concentrated power of WalMart and other giant retailers. For big capital, economic policies that keep rents high and employment a bit low are ideal, which is why it consistently opposes Keynesian policies - except when greed has gotten their personal asses in a crack, as in 2007.