UK Parliament Debates Money creation and society

Cryptocurrencies mentioned

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Very good debate - I totally agree with Baker’s statement:

" I want to live in a society where even the most selfish person is compelled by our institutions to serve the needs of other people and that institution is called a free market economy - because in a free market economy, you don’t get any bail-outs and you don’t get to live at somebody else’s expense."

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I think its pure and utter bullshit of the highest order and leads to the exact opposite result.

The true freemarket economy enslaved the British people utterly through the entire Mercantile period. The Mercantile period was the unrestrained free market that the Austrians dream of and it also was the darkest period in human history. Look at your own history. This free market lead to the birth of the US in response. Since a system of unrestrained systematic slavery is unsustsinable it also thankfully lead to the collapse of the British empire.

Think the concentration camps were bad(?,) take a good look at Mercantile England. ‘Free market’ is code for rule by money and heriditary money at that. It is anything but free. You want the law to be something that is meant to keep you down then hold fast to the religion of ‘free markets.’ In such a set up the preordained winners have already taken all and are free to pull the trigger on you.

No one under age 60 should be allowed in parliment.

Warren, Mercantilism is pretty much the opposite of a free market economy, so you are totally wrong to equate the two. Mercantilism is all about govt tariffs, regulation, protectionism etc to grow the nation state, it is all about controlled markets. A free market economy on the other hand, is a system whereby prices are freely agreed between sellers and consumers - they are chalk and cheese…

What is your reasoning for this extremely ageist claim?

Well put and that is my understanding of the core of the Austrian claim, well that and private business would act as a hedge against state power.

But my point is the unregulated totally free market really means Mercantilism as the market powers quickly become the power period and the only logic is what either makes them more powerful or adds to their already massively excessive wealth. The state just becomes another barrier to entry as everything in the society becomes about the security of the powerful.

Protectionism makes some sense to me as a corrective but coupled to isolationism and not empire as during the mercantile period.

As for the ageism, well I want people how are in a less egoic period of the life cycle with a life time of personal experience to reflect on. I also dont want people in powere because of personal chrisma, its too tied to psychopathy.