Saturday, 28 October 2017

Yaron Brook on the Morality of Capitalism

The principle economic difference between Yaron Brook and Ludwig Von Mises is that while Von Mises proved collectivism cannot work he failed to convert a single collectivist because he tried to divorce economics from morality - an omission that always ends in an implicit endorsement of altruism. 

In The Letters of Ayn Rand and Ayn Rand's Marginalia, which I highly recommend, she is very critical of Austrians like Hayek and Freidman for accepting the fundamental, underlying and especially the moral premises of capitalism's enemies - Hazlitt and Von Mises make similar errors in their value theory - and elsewhere - but with them it is less pronounced.* 

The problem with Von Mises is essentially this -  he was a Kantian and therefore opposed to induction from 'perceptual certainty.' 

He thought he could deduce the principles of economics from the axiom of "human action" independently of moral theory, epistemology etc..

Unfortunately, for him and his Praxeology [ from Greek praxis meaning deed or action ] human action is inextricably value-laden. 
For example, what happens to economics if people value a Dictatorship of the Proletariat in the Soviet Union, or, in Saudi Arabia, the afterlife, above all else?

Studying the means of economic advancement is fine but it is meaningless if you neglect the ends, and the why and the how.

Consequently, Von Mises is enormously incoherent in many sections of his books - smuggling in moral and epistemological assumptions as he must, but in a very hostile, malevolent and contradictory manner completely at odds with both the substance of his books and with the essence of capitalism - i.e. love and benevolence.

It is a great tribute to the human spirit that even people lacking economic education do not fall for such specious arguments. In a sense, it demonstrates that contrary to Von Mises, there is no metaphysical conflict between men - class war, race war, gender war, are mere figments arising from the human imagination.

People are moral and they will support moral principles over malevolent practicalities every time if they are taught to know the difference -  choices count.

To quote Auberon Herbert "It is not laissez-faire that has failed. That would be an ill day for men. What has failed is the courage to see what is true and speak it to the people, to point to the true remedies."

*Hazlitt, for example, said rich people should forgo the purchase of luxuries in favour of giving money to charities because production would be diverted to the necessities of the poor - which is insane both economically and morally, and total gift to socialist propagandists!
Von Mises, for example, said liberalism failed because most people were too stupid to understand economics while at the same time claiming savages used reason just like everyone else, which is sort of true but categorically not in the sense he meant it! 

Capitalism is a social system of love 1.09.20 secs - 1.17.45:


Monday, 23 October 2017

"Selfishness without the Self" - the Clansman's dilemma

Ayn Rand on the existential origin of altruism and also the psycho-epistemological cause of its continuation.



Interestingly,  "Outlander" on Amazon Prime - one of the most romantic and carnal TV series I have seen - provides the perfect background to this age-old philosophical dilemma and the central issue free will which lies at the heart of all romantic drama.

"Strange, the things you remember. The people, the places, the moments in time burned into your heart forever while others fade in the mist. 
I've always known I've lived a life different from other men. And when I was a lad, I saw no path before me. I simply took a step and then another. Ever forward, ever onward, rushing toward someplace I knew not where. And one day, I turned around and looked back and saw that each step taken was a choice , to go left, to go right, to go forward or to even not go at all.
Every day, every man has a choice between right and wrong. Between love and hate. Sometimes between life and death. And the sum of those choices becomes your life. The day I realised that is the day I became a man."

Perhaps it's no mere coincidence that Walter Scott also chose the Highlands as the background to "Waverley" 1815 - the first romantic novel of the modern era.