Notable Quote - The Case against Socialist Control of the Economy - Granite Grok

Notable Quote – The Case against Socialist Control of the Economy

Economy

There is therefore no ground for the pretence that in order to maintain equilibrium between production and demand, we must employ the foresight of an army of administrators and surveyors, whose duty it should be to prescribe what every produce should provide, and consequently how much each consumer should enjoy. Inhabitants of our metropolis see every morning an ample but not excessive provision made for its 3,000,000 inhabitants, and this without any previous direction or settled plan; the utmost order and regularity result from the natural economic law of the supply and demand finding their equilibrium spontaneously; whereas we might look for a chaos tenfold more chaotic than that of Balaclava, if the problem were left to the arrangement of administrators or directors of social labour and consumption.

Lord Acton

Yet, this is exactly what the Socialists now in control in DC are going to try – and they aren’t hiding it any more. They have said that they are “re-imagining” our economy and will be implementing their ideas “for our best interests”. They’re morons if they think they can manage a $23 Trillion economy with a handful of people – they are already falling into Hayek’s “Fatal Conceit” that they know enough to do this.

And it is clear that they don’t – they will show us that they haven’t even bothered to learn from history that no one can but they’ll put us fiscally under water and Venezuealan type misery trying to convince us otherwise.

Spontaneous Order – these Economic Commandos can’t even begin to realize that that hundreds of millions of people making 10s to 100s of billion economic decisions FOR THEMSELVES create a system of pricing that auto-regulates. Sure, they’ll kvetch about “market failure” hoping that the rest of us actually believe that lie when all it really means is “The Market isn’t doing what we WANT it to!“.

A big difference.

It’s the same with we peons – they don’t Trust us to make good decisions for ourselves – and they must SAVE us from our bad decisions. After all, they know what is better for us than we do (even as they don’t even know our names).

And that is Conceit, indeed.  We need to call them Selfish, too, because they are not as altruistic as they think they are. What they REALLY are is Power-hungry.

And they are sufficiently Conceitful to believe they can wield it “beneficially”.

(H/T: Cafe Hayek)

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