Monday, October 20, 2008

The Road to Socialism (Serfdom)

Arthur Schopenhauer is famous for many statements. My favorite is the process of establishing truth. “All truth passes through three stages. First, it is ridiculed. Second, it is violently opposed. Third, it is accepted as being self-evident.”

Taking a page from Schopenhauer, the road to socialism in America passes through three stages. First, combine small banks and companies into large banks and companies. Second, have the government take shares in large banks and companies. Third, have the politicians direct the flow of capital, investment, production, employment, and consumption.

We are part way into stages one and two, under a Republican president and administration, no less. It won’t take long for stage three to emerge.

1 comment :

Sridhar Gurivireddy said...

It's too bad that people are blaming this on laissez faire capitalism. "Heavy financial Regulation" was ridiculed and is now being debated. We might end up on the wrong side of history, if we accept it. Most changes brought out by "Commodities and Futures Deregulation in 2000" actually worked. It's only couple of cases where it failed.