UM, NO MORE USEFUL IDIOTS. IT’S RULE OF LAW VS NOT —“Markets don’t produce a d

UM, NO MORE USEFUL IDIOTS. IT’S RULE OF LAW VS NOT

—“Markets don’t produce a damn thing. People do. Capitalism is killing us.”—psychobabble @terieUSA

—“Capitalism doesn’t kill us, people do.”—Robert P. Murphy @BobMurphyEcon

The capitalism vs socialism dichotomy is yet another bit of Pilpul to distract useful idiots. The question is and always will be Rule of Law vs Rule by Discretion.

Rule of law produces markets limited by externality, where “capitalists” want free trade regardless of externality.

Socialists drive to produce arbitrary rule disregarding not only the external but the internal, and driving people into the market for corruption, rent seeking, and black markets.

So the capitalism vs socialism debate distracts us from the west’s origin: Rule of Law by reciprocity.

(Staying on message: rothbardian libertarianism is just Common Property Marxism – the low trust ethics of sheep herders and the ghetto. No more useful idiots. The only source of Sovereignty, Liberty, or Freedom is Rule of Law insured by every able bodied man bearing arms. Period.

To answer the original nonsense-argument, that people produce not markets, this is patently false. Rule of Law produces, markets, and markets produce risk takers and organizers, and less and less frequently labor. The value is created by the risk, the organization, and not labor.

That’s just the evidence. In fact, over the next fifty years the increasing decline in the value of labor will require paying people to not interfere in the market they depend upon because all they are able to do is generate demand for consumption given the disutility of labor.