Thursday, 13 August 2009

Deductions From Mixed Premises Are Always Deluded


Those who would discredit the economic policies of the Ma administration on statist grounds must expect to have their own economic prescriptions discredited since they share the same tacit premises.

International trade free from all taxes and restrictions does not benefit particular nations or states - providing 'benefits' is not the point. The point is to allow all people, regardless of nation, race, politics or any other arbitrary divider, the freedom to pursue their own self-interests without interfering with the freedom of others.

The purpose of State institutions stands in logical opposition to the existence of the free market. Contrary to popular opinion, the western countries - including the United States - do not 'benefit' from free trade since it simply does not and cannot exist so long as there are State regulations. Today there are regions of the UK for example in which the State accounts for 60% or more of the regional economy - which is greater than the corresponding figures for eastern European nations under the former Soviet Union.

Those who decrie economic liberalisation and free trade as the 'voodoo economics' of 'neo-liberalism' are either opposed to the freedom of the individual (in which case they may find company with the governments of the 20th Century) or they are simply the confused victims of mixed premises.

Yours sincerely,

Michael Fagan

(Sent: Thursday 12th March 2009. Unpublished by the Taipei Times)