WHY ECONOMICS?

June 11, 2010

WHY ECONOMICS?

You may have heard economics called “the dismal science”. Whatever exposure you may have had to economics in school or in the news, it probably seemed complicated, weird, or boring. There are good reasons for this. Certainly talk about finance is complicated, full of specialized jargon, and confusing.

Perhaps that is partly camouflage to cover the fact that finance is credit which is legalized counterfeiting. Counterfeiting is robbery of the stealthiest sort. I was shocked when I recognized that simple truth. If you understood that, you might rebel. That’s why it is important to understand economics. It’s all about our freedom.

There are 2 major (and many minor) schools of economic theory, all wrapped in very scholastic language and style, with even more jargon. You can read all about it, with a huge dictionary at your elbow, trying to learn this new language as you go. My goal is to reduce economics to plain, simple English. Economics is something we all practice every day, so, without knowing it, we already understand a very big part of economics.

One of the 2 main Economic theories is that of John Maynard Keynes, usually called Keynesian economics. It is only concerned with the guidance for government in managing all of the economic activities of a nation. Its main concern is how to control the money supply in hopes of achieving eternal prosperity, and simultaneously enable the stealth tax to finance the growing power of government. The control of the money supply requires control of the banking system through a central bank. In the USA that’s the Federal Reserve System.

Trying to make sense of Keynes’s theory might drive you mad, because basically, it doesn’t make sense. Yet it is still the economic mainstream, because it so perfectly fills the goals of governments of all kinds.

The other main theory is called Austrian because it was pieced together in Austria over 100 years ago. Now, it seems there are “Austrians” (economists) everywhere but in Austria, and mostly in America. Austrian economics is the economics of the free market.

The difference between Keynesian economics and Austrian economics is the choice between government control and freedom.

The message of this Blog is just this; if your government has no respect for private property, then it really owns everything you own, including you, your income, and all your worldly possessions. Without economic freedom, all other freedoms are meaningless.

If you value freedom, you need to understand economics to realize just how unfree you are. With understanding, we can regain the freedom which we wrested from King George in the Revolutionary War.

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One Response to “WHY ECONOMICS?”

  1. David Jahntz Says:

    Since I “owned” my first house I realized that, even if I ever paid off my mortgage, by being forced to pay real estate tax every year the specter of a government lien against my property was always there waiting for me to default on those taxes thus allowing government to legally take my property and auction it off. Therefore, I never really owned it at all! When James Otis said a man’s home was his castle in the 18th century, he certainly couldn’t have imagined government’s grasp of our “castles” today!


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